October 25 (SeeNews) - State-owned Bulgarian Development Bank (BDB) said on Thursday that it has extended a 25 million euro ($28.5 million) five-year investment loan to Bulgarian Telecommunications Company (BTC).
BTC, which operates under the brand name Vivacom, will use the proceeds of the loan to upgrade its network infrastructure, BDB said in a statement.
The loan was extended in October, the bank said without disclosing further details.
At the end of June, BTC offered its mobile services to around three million clients.
On the mobile segment, BTC competes with Telenor Bulgaria, A1 Bulgaria and Max Telecom.
($ = 0.8772 euro)
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