Bulgarian lender Corporate Commercial Bank and Russian peer VTB Bank have agreed to take over debt-ridden Bulgarian telecoms company BTC, which operates under the brand name Vivacom, Russian media reported.
"CCBank and VTB Capital have agreed to form a tie-in and it will be picked as preferred buyer by the senior creditors' committee," Tsvetan Vassilev, chairman of the supervisory board of CCBank, told Russian newspaper Komersant.
CCBank holds nearly half of the deposits by state-run companies and is widely known as the government's darling.
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