United Group, the leading provider of telecommunications services and media in Southeast Europe has reached an agreement to acquire Bulgaria’s Vestnik Telegraf EOOD newspaper business from Intrust EAD.
“We’re excited to announce this deal. Bulgaria is an attractive market for United Group and the Telegraf business complements our other media asset here, adding the missing print component,” said United Group CEO Victoriya Boklag.
“With Telegraf as part of our activities United Group will offer the full spectrum of media services in Bulgaria. We are adding the missing piece to the puzzle to create a 360-degree business here. We see the opportunity to further improve all of Telegraf’s editions and transit this business into digital to further strengthen our digital portfolio in Bulgaria,” Boklag said.
Vestnik Telegraf EOOD operates several brands:
- Telegraf – country’s largest daily based on circulation
- Monitor – national political and economic daily
- Match Telegraf – a leading national sports daily
- Politika – national political and economic weekly
- Europost – English-language weekly
- Borba – regional daily from Veliko Tarnovo region
Telegraf, Monitor, Politika, Europost and Borba also offer digital content via their websites.
The transaction is expected to close in the first quarter of 2021 and is subject to customary regulatory approvals.
United Group first entered the Bulgarian market when it won a 2019 tender to acquire Vivacom, the country’s leading telecommunications company. That was followed by the acquisition of Bulgaria’s largest multi-platform media company, Nova Broadcasting Group, which was completed in January 2021.
Operating in both the telecommunications and media sectors, the United Group platform combines the leading operators and best content producers in Southeast Europe.