Bulgarian Telecommunications Company AD, (BTC), listed on the Bulgaria Stock Exchange, has agreed to sell its broadcasting operation - National Unit Radio and TV Systems (NURTS), to Oesterreichische Rundfunksender GmbH & Co KG (ORS), the company said yesterday.

The purchaser is a major strategic EU investor operating in the broadcasting business. ORS has been selected through a competitive international tender. The closing of this transaction is expected after receiving the approval of the relevant regulatory authorities.

NURTS is the leading provider of radio and television broadcasting services through its network of over 800 strategically located sites covering nearly 100% of the Bulgarian territory.

The company offers a nationwide microwave transmission network carrying TV, radio, voice and data transmissions, provides collocation services and manages a state-of-the art satellite teleport. Since 2006 NURTS has been developing the Sofia experimental DVB-T multiplex. NURTS was until now a division within BTC group.

NURTS' broadcasting business was considered as a non-core activity for BTC, the CEO of the company Bernard Moscheni said. In accordance with our strategic plan, the disposal of NURTS will allow us to better focus on our core activities: fixed, mobile and data services. We are delighted to have ORS as a strategic investor that will provide the know-how and necessary investment to bring NURTS into the digital broadcasting age. NURTS' clients and ultimately the Bulgaria will benefit from new services."

NURTS is currently well positioned in the analogue radio and television broadcasting business and is therefore well placed to play a leading role in the migration to digital broadcasting in Bulgaria, according to ORS' CEO Michael Wagenhofer.

The international investment bank Lazard has advised BTC on this transaction and Vienna Capital Partners acted as advisor to ORS.