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Bulgarian Telecommunications Company (BTC) is the incumbent national telecommunications operator in Bulgaria. BTC's core activities include: local, long-distance, and international fixed-line voice; leased lines; mobile; Internet and data transfer through BTC-NET; satellite communications; telex and telegraph; cable TV; payphone; and, TV and radio broadcasting and transmission services.
In June 2004, the Bulgarian government sold 65% of BTC to Viva Ventures, a subsidiary of US private equity fund Advent International. Viva Ventures paid €280 million, including €50 million destined to raise the company's capital, and pledged to invest at least €400 million over five years to upgrade BTC's analogue telecommunications network and release of a range of new services, based on data transfer and the Internet.
Bulgaria's third GSM license was awarded to BTC as part of the privatisation deal. At the beginning of 2005, BTC also increased its stake in analogue mobile network operator Radio Telecommunications Company (RTC), which operates under the Mobikom brand name, from 39% to 100%.
In January 2005, the Bulgarian state sold a total of 2,869,573 shares (34.78% of BTC's capital) on the Bulgarian Stock Exchange. The state retained a 'golden share' in BTC, which allows it to veto any strategic decisions on BTC's future.
In May 2005, BTC was granted a 3G UMTS mobile licence.
