RCS/RDS looks for funding
By Chris Dziadul
August 19, 2009 06.22 UK
The leading Romanian cable and DTH operator RCS/RDS plans to raise up to RON250 million (€59.5 million) in capital.
According to ZF, the additional funding will be obtained either in cash consideration from shareholders or by the conversion of debt into shares.
RCS/RDS has 1.4 million cable and 1.1 million DTH subscribers in Romania. It also has nearly 1 million internet users and is the country’s second largest provider of fixed line telephony, with 1.25 million homes.
Furthermore, its DTH platform Digi TV is also available in five other CEE markets.
RCS/RDS failed to secure a listing on the London Stock Exchange in 2007, after which it took out a syndicated loan of $500 million (€354.3 million) from a consortium of banks.