Swedish Entertainment Group MTG Sells Nova TV To Bulgarian Investor

SOFIA (Reuters) - The Bulgarian competition regulator gave a green light on Friday to Advance Media Group to acquire the Balkan country’s leading commercial media company Nova Broadcasting from Swedish entertainment company MTG.

MTG agreed to sell Nova to Bulgarian investors Advance Media last month in a 185 million euro ($209.07 million) deal.

The proposed transaction followed Czech investment group PPF’s decision last month to drop plans to buy Nova after it was blocked by the competition regulator.

Reporting by Tsvetelia Tsolova. Editing by Jane Merriman

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Swedish entertainment group MTG sells Nova TV to Bulgarian investor
Swedish entertainment group MTG sells Nova TV to Bulgarian investor