Bulgaria's Max Telecom Announces Change of Ownership

London-based private equity investor Daniel Kupsin is the new owner of Bulgarian WiMax operator Max Telecom. Photo by Max Telekom

London-based private equity investor Daniel Kupsin is the new owner of Bulgarian WiMax operator Max Telecom.

Kupsin is now the sole-shareholder of the first European company that launched 4G services back in 2007 and today has nearly 70% coverage of the Bulgarian population and offers nationwide mobile internet services, according to a media statement of the company.

Krassimir Stoychev, the founding owner of Max Telecom, will be replaced as CEO by Peter Covell, an industry veteran with deep experience as an executive in Bulgaria and other telecom markets.

Tony Robinson will become a special advisor to the CEO, and member of the Board of Directors.

Daniel Kupsin will become Chairman of the Board of Directors and will be closely involved in the future development of the operator.

"Our objective is to raise Max Telecom to a different level – we plan to introduce new technology, provide the best possible telecom services to the local market and be at the vanguard of the LTE revolution that is only now being introduced across Europe and the rest of the world," the new owner of Max Telecom, Daniel Kupsin announced.

"I welcome the arrival of Peter Covell and Tony Robinson - the best possible team of top executives with vast experience in Europe and Bulgaria in particular. They will be supported by a new Max Telecom Board, which will include highly skilled professionals comprising telecom, marketing and finance expertise. We have plenty of work ahead of us but are confident we can meet the challenges facing Max Telecom," Kupsin added.

Max Telecom plans to launch LTE services in Bulgaria in the 3rd quarter of 2013.

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