Spas Rusev and VTB are not the legitimate owners of BTC (Vivacom)


Following the recent General elections in Bulgaria held on 26 March 2017, the company Empreno Ventures, which is the legitimate owner of 76% of the shares in BTC (Vivacom), is facing an unprecedented political pressure, which extended to the Bulgarian judiciary and the Bulgarian Commercial register.

The registration of Spas Rusev and the rest of the VTB-appointed directors at the Supervisory board of BTC (Vivacom) as a result of such political involvement doesn’t mean that Mr. Rusev is the legitimate owner of the company, as some Bulgarian media tries to speculate. Just on the contrary – VTB and Spas Rusev are absolutely desperate to take away as many millions as possible from BTC (Vivacom) until the courts and arbitration tribunals in London and Luxembourg reveal the scheme for their fake auction of November 2015.

Mr. Dmitry Kosarev, the owner of the company Empreno Ventures Ltd., who ultimately controls BTC, have notified the Bulgarian prosecutors and the State Agency for National Security about the recent activities of Mr. Rusev, whose funds for the acquisition of BTC (Vivacom) are of unknown nature and who has undertaken various activities in breach of the Bulgarian legislation. The competition clearance for the illegal BTC (Vivacom) deal of VTB/Rusev is still under appeal in the Bulgarian Supreme Administrative Court. He has notified the EU Commission and the Bulgarian Commission for Protection of Competition on the various competition law deficiencies that the BTC (Vivacom) deal of VTB/Rusev has.

“Over the last months I noticed a very positive tendency noticed in the Bulgarian society. Everybody in Bulgaria clearly realized that Mr. Rusev is a puppet of various political, shady masters. He broke the trust of the fans of one of the most respective Bulgarian football clubs – Levski. Rusev didn’t keep his word that he will quit being the owner of FC Levski, simply because he is a straw man of VTB and various political figures in Bulgaria. This will all be revealed very soon during our litigation and arbitration proceedings in the UK, Luxembourg, Bulgaria, Russia and others” - says Mr. Dmitry Kosarev.

From the next steps of VTB/Rusev/Veltchev brothers in Bulgaria the Bulgarian society will clearly evidence the real intentions regarding BTC (Vivacom) and the political support that these intentions are gaining on the highest levels. VTB/Rusev/Veltchev brothers will first attempt to sell under value the real estate of BTC (Vivacom), while in parallel trying to make BTC (Vivacom) pay for its own acquisition, which has criminal and civil consequences under the Bulgarian and the EU law.

The fact that VTB/Rusev/Veltchev brothers are receiving such political comfort given the fact that their under-value attempt to acquire BTC (Vivacom) is damaging the interest of the Corporate Commercial Bank insolvency clearly shows that there is the highest political protection over their illegal activities. As part of the international legal proceedings we are determined to clearly demonstrate the link between the Bulgarian political establishment and VTB/Rusev/Veltchev brothers.

Dmitry Kosarev regrets that the Bulgarian authorities do not interfere in this unprecedented situation when group of corrupted politicians and bankers are trying to steal largest telecommunication company from him - its legitimate owner.