Telecom operator RCS&RDS, whose annual revenues stand at 400 million euros, has hired Credit Suisse First Boston investment bank to get it more than 200 million euros from the financial market in form of a seven-year loan, market sources told ZF.
The money should be used to buy rival UPC in case the deal comes through. RCS has discussed with several banks over it and over securing the necessary financing for the acquisition.
Information surfaced on the market in March that RCS, a company controlled by Oradea businessman Zsoltan Teszari, was reportedly looking to buy UPC Romania, a company held by US Liberty group. The information has not been officially verified by either of the parties so far, yet everybody is talking about the deal, from the authorities in the field to bankers and analysts. According to ZF sources, the parties have discussed the deal with lawyers and bankers, considering the competition problems it poses, plus the 300 million euros that the buyer has to come up with. RCS, the number one on cable and satellite TV and Internet markets in Romania wants to take over UPC, the number two on the TV market, thus creating a "monster" with about 9 million customers on the telecom market.
Telecom operator RCS&RDS, whose annual revenues stand at 400 million euros, has hired Credit Suisse First Boston investment bank to get it more than 200 million euros from the financial market in form of a seven-year loan, market sources told ZF.
The money should be used to buy rival UPC in case the deal comes through. RCS has discussed with several banks over it and over securing the necessary financing for the acquisition.
Information surfaced on the market in March that RCS, a company controlled by Oradea businessman Zsoltan Teszari, was reportedly looking to buy UPC Romania, a company held by US Liberty group. The information has not b
