AIG Capital Partners, part of AIG Global Investment Group, officially acquired 90% of the country’s main landline telecom BTC in block deals on the local stock exchange endorsed Friday last week. Four months ago, AIG Capital Partners signed a EUR 1.08bn deal for taking over 65% of BTC from Iceland’s investment group Novator, which held a call option for the stake owned by the private equity firm Viva Ventures. The block transactions on Friday formalised the earlier signed agreement in addition to transfers of minority stakes for a total of 25% held by various domestic and foreign entities indirectly linked to Novator. The price terms of the block transfers are booked at BGN 2bn for the 65% stake and BGN 772.45mn for the 25% stake. The market capitalisation of BTC formed by the free-float trade stands at BGN 3.1bn (EUR 1.6bn) at present after a drop by 7% in the day of the block deals. AIG Group officially announced that it will submit a buyback offer to minority shareholders. If the offer is successful, the largest company traded on the local stock exchange will be delisted from public trade. BTC is the biggest landline operator in the country and full stakeholder in the third cellphone network vivatel. The net consolidated profit of BTC dropped 22% y/y to BGN 72.4mn (EUR 37mn) in H1 after a 15% decline last year.