Bulgarian cable operator CableTEL to invest in Azerbaijan

CableTEL will team up with Turkey's Genay for the greenfield investment project in the former Soviet republic.

The two partners will co-create CableTEL Azerbaijan which will be the first overseas subsidiary of the Bulgarian company.

CableTEL said it may forgo coaxial cable technology and opt for a fiber-optic platform for the TV network in Azerbaijan.

The Bulgarian company said it hopes to achieve over the next 2-3 years a penetration of 35-40% in Azerbaijan, a country of 8 mln.

CableTEL is also sizing up the Macedonian market. The company said it is on the verge of clinching a couple of merger and acquisition deals with cable operators in the capital Skopje.

CableTEL is eyeing Turkey as well, where the cable market is to be opened to competition after the expiry of Turk Telecom's monopoly.

CableTEL is also an active participant in the consolidation of the Bulgarian cable market.

Earlier this year the company reached an agreement to buy a majority stake in local peer Evrotur Sat TV. CableTEL is said to control 12-13% of Bulgaria's cable market while the share of Evrotur Sat TV is seen at over 10%.

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