Romtelecom, new offices 2011The Romanian incumbent telco Romtelecom has increased the share capital of its cable company NextGen Communications by RON6 million (€1.24 million).
Quoting a document published in the Official Gazette (Monitorul Oficial) late last month, ZF reports that the move took place in July and raised the value of the company to RON219,074,020.
NextGen has grown principally through the acquisition of smaller operators and in 2010 the latter contributed RON17 million in revenues and RON7 million in net profit before tax for the company.
Romtelecom spent €40 million on acquisitions in the first half of this year.
Although they included €11.2 million for AKTA Satelit and €5.9 million for Boom TV, the company had up until June paid a combined total of only €7.2 million for the two DTH platforms.
Romtelecom, which is backed by OTE and ultimately Deutsche Telekom, operates DTH and IPTV services under the Dolce brand.