Digi owner bids for Romtelecom
Published: 08.05 Europe/London, May 13, 2011 by Chris Dziadul
Romtelcom, the fast-rising star in Romania’s pay-TV industry, has become a takeover target for not only Deutsche Telekom-backed OTE but also RCS&RDS. The Romanian communications minister Valerian Vreme has revealed that the operator of Digi TV has put in a bid for the 45.9% of Romtelecom currently owned by the state.
Quoted by Balkans.com, the minister added that should there be failure to reach an agreement with OTE – currently the majority (54.01%) shareholder in Romtelecom, he would rather have the company listed.
Talks between OTE and the Romanian state about the future of Romtelecom are due to take place in Bucharest next Wednesday (May 18).
Previous reports have indicated the Greek telco is willing to pay €350 million for the 45.9% stake, far short of the expected €1 billion.
RCS&RDS has already been linked with a move for UPC Romania’s cable interests.
Buying into Romtelecom would give it an almost unassailable position in the Romanian pay-TV market, where it is already the leading cable and DTH operator.