New loan for RCS/RDS
By Chris Dziadul
Published: November 3, 2010 07.18 Europe/London
Romania’s leading cable and DTH operator RCS/RDS has secured a loan of €200,000 from UniCredit Tiriac Bank.
According to ZF, an agreement was signed by the two parties on October 5 and the amount does not include interest, commission and other charges.
RCS/RDS, which also has a presence in the cable and DTH markets (in the latter instance through Digi TV) in several other CEE countries, grew its business by $700 million (€501.3 million) last year, boosted by a loan of $500 million from ING.
It invested $1 billion in its business between 2007-9, of which $280 million was last year.
RCS/RDS faces strong competition from both UPC Romania and the incumbent telco Romtelecom.