Telecoms - Media - Technology

 The Experience

Raiffeisen Investment's TMT team has collected extensive experience in various assignments across the TMT spectrum over a number of years. Landmark transactions include:

• Advisory to Providence Equity Partners on its acquisition of a stake in Volia Cable, the number one cable TV and Broadband Internet provider in Ukraine – the transaction being the largest Western European private equity investment in Ukraine to date ^[1]
• Advisory to AIG on its acquisition of Bulgarian incumbent operator BTC representing the largest deal ever undertaken in Bulgaria, as well as being the largest private equity buyout in the CEE region to date
• Advisory to the respective Governments on the privatisations of Bosnian Telekom Srpske and Telekom Montenegro
• Advisory to Telekom Austria on its acquisition of Bulgaria’s largest mobile operator Mobiltel

 ^[1] together with Lazard

The Team

Raiffeisen Investment's core TMT team members have gathered substantial TMT banking experience in various roles including corporate finance/ M&A advisory, Debt & Equity Financing, Project Finance as well as Operational Management. We offer an integrated solution combining sector expertise with local know-how and the full range of Raiffeisen Group's financial products.

The Sectors

The TMT Team focuses on the following sectors and subsectors:

Telecommunications

Incumbent Operators, Mobile Telephony, Alternative Operators, Equipment Vendors, Mobile Value-Added Services Providers …

The privatisation of some operators in the region is still on the agenda, fostered by the ever-increasing liberalisation of telecom markets. In spite of recent capital market turbulences, telecom companies tend to have a strong liquidity base which will continue to drive deal activity, together with new technology platforms, additional service offerings, and ongoing fixed-mobile substitution as operators compete to attract and retain subscribers on their networks.

Media

Cable television, TV & Radio Broadcasting Infrastructure, Satellite Services, Publishing, Directories, Internet portals, Social Networking Sites, Outdoor Advertising …

With challenging years lying ahead for both traditional and new media companies, consolidation and integration trends are set to dominate the M&A market. In addition, bigger media houses seeking to add growth prospects to their dwindling margins in mature Western home markets will continue to look at CEE/SEE/CIS opportunities.

IT & Technology

Systems Integrators, Payment Processing, Software Developers, IT service companies, Business Process Outsourcing …

Outsourcing of IT and technology-related activities is high on the agenda for companies. This development is particularly strong in the telecommunication and banking industries, driven by the desire to focus on core business activities and improve the general cost structure. Furthermore, consolidation in the fragmented IT services and ‘box-mover’ industries is bound to increase as levels of competition increase and a certain market size becomes necessary to retain sustainable margins. Proprietary software and technology solutions combined with client relationships remain interesting assets for international players, regardless if they are already present in CEE or if they desire to enter these markets.