Landsbanki Luxemourg, controlled by Iceland’s billionaire Thor Bjorgolfsson, has expanded its ownership in the country’s telecom major BTC to 13.38% from 8.39% after operations on the local stock exchange, reads the press bulletin of the central depositary register. Novator Telecom Bulgaria , which is also controlled by Bjorgolfsson, holds a call option for the major stake of 65% in BTC. It is believed that Bjorgolfsson has indirect control in additional stakes that could turn his total ownership in the telecom to some 90%. Novator Telecom Bulgaria has reportedly shortlisted 6 bidders for acquiring the call option for 65% of BTC. The list comprises one strategic investor, Turk Telekom, and 5 investment funds – Bain Capital, Mid Europa Partners, Providence Equity Partners, Texas Pacific Group, and Warburg Pincus. The call option could be exercised in June this year at earliest – three years after the privatisation of 65% of BTC. The market capitalisation of BTC stands at some EUR 1.7bn at present. In addition to its dominant position on the landline telecom market, BTC is the full owner of the country’s third cell-phone operator vivatel, which has launched operations in November 2005 and holds a market share of some 8% at present, servicing more than 600,000 customers.