February 20 (SeeNews) - Bulgarian-American Credit Bank (BACB) [BUL:5BN] and Bulgarian Telecommunications Company (BTC) are planning to set up a joint venture to develop payment services software, a notice to Bulgaria's competition watchdog showed on Wednesday.
The core business line of the planned JV company will be software development and maintenance, purchase and sale of software products, and technical support for payment services, the two companies said in their request for approval from the anti-trust regulator.
BACB was Bulgaria's 16th largest lender by assets at the end of 2018, according to central bank data.
Sofia-based BTC provides telecommunication services under the Vivacom brand.
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