Romtelecom pays 8m euros for Boom TV
Romtelecom, number three on the Romanian TV services market,
will pay between 7.3 and 8 million euros (VAT-less) to get the
95,000 subscribers of Boom TV - a satellite television platform
operated by DTH Television Grup. Romtelecom is negotiating the
acquisition with Casa de Insolvenţă Transilvania (Transilvania
Insolvency Firm - CIT), court-appointed administrator of DTH
Television Grup, an insolvent company with over 100 million euros
in debts.
"Negotiations start from the price Romtelecom conveyed to the
judicial administrator, 8 million euros plus VAT," reveals the
reorganisation plan announced by CIT, which will be submitted for
approval to creditors on March 21st. "We are in an advanced stage
of negotiations to take over Boom," Romtelecom confirmed.
Boom TV previously negotiated its sale to Romtelecom two years ago,
for over 50 million euros, but then Romtelecom suspended talks
abruptly. Boom TV has since lost over 130,000 subscribers and
accumulated debts.
The acquisition of Boom TV would bring Romtelecom to 1.148 million
clients on the TV services segment, marginally behind UPC, number
two on the market, which had 1.156 clients at the end of December
2010.