BULGARIA - Arco acquires CableTEL for €41m

Arco Capital Corporation (ACC) has announced the €41m acquisition of CableTEL, a Bulgaria-based telecommunications company which also has operations in Macedonia. ACC is a holding company that engages in lending and acquisition activities primarily in emerging European and Latin American markets. ACC is externally managed by Puerto-Rico based firm Arco Capital Management LLC, which is part-owned by the principals of Gramercy Advisors LLC, a US asset management firm with $3.6 billion in assets under management.