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The total financial effect of the deal of 65 % stake at Bulgaria's telecom, contracted to Viva Ventures, in consortium with the US Advent International, will strike over EUR 1.1 B, apart from the estimated dividend, Transport and Communications Minister Nikolay Vassilev told a local radio on Saturday.

This is the largest in scale privatization deal in Eastern Europe, he pointed out. Bulgaria is in the midst of a telecom revolution with a lot of change in store. There are a lot of high tech advances in the planning phase in Bulgaria.

BTC's buyer Viva Ventures will pay an additional EUR 50 M, along with the contracted price of EUR 230 M, for the modernization of the telecom. Another EUR 45 M is allotted for maintenance of social programs.