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Thursday, March 22, 2018


The movement of capital around the largest Bulgarian mobile operator Bulgarian Telecommunication Company (BTC; brand Vivacom) have recently attracted the attention of not only European financial circles, but also in the Russian media. So, Kommersant reported that VTB Bank will become a co-owner Vivacom, where can get 20% minus 1 share. Another view of the interest of journalists to this story – a surprise inclusion in the struggle for a Bulgarian company entrepreneurs from Russia: Orthodox activist Dmitry Kosarev and oligarch Konstantin Malofeev.

Vivacom — company long-suffering: one of the owners, a Bulgarian oligarch Tsvetan Vasilev, in 2014, went bankrupt and was even put by the Interpol on the international wanted list. The court imposed a ban on all property Vassileva, including his shares in Vivacom. To prevent the company from drowning, she was given a large loan from a syndicate of banks, including “VTB Capital”, which has received a pledge of its shares. The maturity of the loan has expired, and in November 2015, “VTB Capital” held an open tender for the sale of collateral. The winner then became the company Viva Telecom Bulgarian businessman spas Ruseva, who bought a pledge over 330 million euros.

At this stage the fate of the Bulgarian brand has attracted the interest of the Russian businessman and monarchist Dmitry Kosarev. Despite the fact that the European Commission never approved any related transactions, the entrepreneur announced that the largest shareholder (77% stake) Bulgarian Telecom should be considered by it.

The Kosareva can hardly be regarded as an independent figure in the case of Vivacom. According to “Kommersant”, it is directly linked to businessman Konstantin Malofeev. Kosarev has worked in different structures of the oligarch since 2007.

Whole story of purchase Kosareva have burned Tsvetana Vasileva Vivacom shrouded in mystery. Apparently, in an attempt to preserve at least some of their distressed assets, Vasiliev began to hastily search for them any buyers. At first he seems to be able to enlist the support of businessman Pierre Louvre, but he quickly changed his mind and returned the shares to the Bulgarian. Perhaps it is through Louvre Vasilev came to his business partner at CFG Marshall Konstantin Malofeeva. Here is Russian oligarch and needed the help of a Trustee.

His longtime colleague in the business, religious and political beliefs Dmitry Kosarev, who, along with him the gymnasium of St. Basil the Great and of the “Noble collection”, perfect for the role of “RAM” in terms of the redistribution of the assets of the ill-fated Bulgarian operator.

Russian on the move decided to discredit the decision, which was made of the Saviour Ruseva by the buyer of collateral. Doing controlled Kosarev company Empreno: she filed a lawsuit, challenging the results of the auction, where she allegedly was not allowed. By the way, in the early stages in the auction was attended by 40 companies, then the two of them left, and, as stated in “VTB Capital”, any applications from Empreno they simply do not get. In the end, now consider the case a London court. In Bulgaria, it ends the transaction for the transfer of shares in Bulgarian Telecom.

Such action appropriate, rather, real cowboys, and not Orthodox businessmen, Russian businessmen was not expected. Malofeev earlier his interest to carve Vivacom did not put on display, but now it becomes increasingly clear that he is the real puppeteer of this transaction. For example, how a public figure and a minor official Kosarev, once tried to speak with strange proposals like inclusion in the Constitution of the Russian Federation article about the special status of Orthodoxy or Russia’s return to the absolute monarchy, was able to get a lot of money for the purchase of shares of the largest cellular company in Bulgaria? Previously, he has not contacted the business abroad is not the extent of, and here – such a bold and predatory step. Having considered the history of many years of cooperation of businessmen, can be clearly defined, whose interests are defended by Kosarev.

Joint business samishisa on the ground of monarchical ideas and religion Malofeev and Kosarev lead since 2007. BWO “ferst global prodzhekts Menedzhment INK., DZHI.AY.TI. Telecom limited”, CJSC “TC-KHOLDING”, ZAO “Regionkapital”, JSC “Production center “barefoot” — this is not a complete list of the under control oligarch structures, where he worked Kosarev. In most cases, Malofeyev was attracted to the colleague and to the leadership of their companies.

With all this he Kosarev is not the top of the list “Forbs”, is good, but not luxury cars , and data on its palaces and mansions on the ruble, we also could not find.

By the way, Malofeeva Kosarev — not the only one “trusted” person. The oligarch has long operated on the hours worked and the effective pattern. For example, in such companies, as “Svyazinvest”, “Nutritek”, especially “Svyazinvest”, he also gets his share, puts trusted people, and then begins to realize its own interests, taking advantage of ties to the government.

In the situation with the Bulgarian telecommunications brand is striking that the Orthodox businessmen and the monarchists are not shy of any methods of doing business: contacts with persons who are wanted for major theft, fraud with shares of questionable transactions, etc., in addition, arises a very urgent question: why Kosarev and Malofeev in this company. It is unlikely that they intend to develop it. Rather, the reason is that in Russia things have these partners because of their reputation went not the best way, new sources of financing have not been, and here suddenly turned up a good deal abroad. And taken from the hands of the Bulgarian businessman spas Ruseva company can be used, for example, to refer to the “VTB Capital” with the aim of obtaining large sums of money.

Meanwhile other shareholders and “VTB Capital” are determined to defend their interests. Interested in this and the whole Bulgaria, which can lose the largest telecommunication company. Focused only on their own enrichment action Kosareva and Malofeeva can hurt Russia’s reputation. After all, “Orthodox “business”” is not the economic “brand,” with whom should be associated a great country for the nearest neighbors.

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