Saturday, April 16, 2011

Lebanese billionaires buy "Vivacom"

The company Oger Telecom of rich Lebanese Hariri family a month will take over the management of BTC (Vivacom) reported Trud.

Initially, the Arabs will receive 25-percent stake plus management. After a year even will be able to take advantage of the option to purchase the majority share. Hariri family is given two prime ministers of Lebanon. Rafik Hariri ruled the country from 1992 to 1998 and from 2000 to 2004, a year later was killed in an attack. His younger son Saad was prime minister until January this year His older brother Mohammed Hariri leads the cases in the family business empire. Keeps telecoms in Saudi Arabia, Jordan, Lebanon, South Africa and Turkey.

Soon the management of BTC (Vivacom) will be borne by Oger Telecom, founded by former Prime Minister Rafik Hariri of Lebanon. After he was killed in an attack in 2005, the government succeed him post his younger son Saad. He ruled the country until January this year when he fell from power after a scandal in the coalition government in Beirut. The telecommunications giant banks and the family remained in the hands of his brother Mohammed, who is leading the project for business invasion of Europe.

Sources Trud Oger will get 25% ownership in the Bulgarian telecom plus operational management. Will also have the option to buy majority stake in BTC within one year. "The deal is extremely complex and will be in textbooks. The final sale of waiting a month, "said close to the negotiations. Actually the new owner will not pay huge amounts for the shares of Bulgarian Telecom, and will just take loans from banking syndicates. Debts are over 1.3 billion.

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