Novator to sell 65 percent stake in BTC Skip to content

Novator to sell 65 percent stake in BTC

By Iceland Review

The investment company Novator, owned by Icelandic entrepreneur Björgólfur Thor Björgólfsson, is about to sell its 65 stake in the Bulgarian telecommunications company BTC.

According to Fréttabladid, the sale is estimated to be worth EUR 1.3 billion (USD 1.8 billion). Novator’s information officer Ásgeir Fridgeirsson reports that the sale is in its final stages and will be completed after one week.

Fridgeirsson said Novator is not withdrawing from investment in Eastern Europe, as was recently reported in Forbes.

Björgólfsson also has holdings in telecommunication companies in Finland, Poland, the Czech Republic and Greece.

Björgólfsson recently sold a 10.8 percent stake in the Greek company Forthnet, an investment which was considered to have increased in value by 400 percent since its acquisition in December 2005.

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