RCS&RDS looks to raise funds for expansion

9 Oct 2007

Romanian cable operator RCS&RDS has announced plans to list its shares on the London Stock Exchange and hopes to raise USD500 million to help fund its 3G mobile rollout and its expansion into other east European markets. The firm will offer 15% of its value in global depositary receipts (GDRs), the Financial Times reports, valuing it at around USD3.5 billion. RCS&RDS had more than 1.3 million cable TV customers in Romania at the end of June; it also offers telephony (862,000 users) plus dial-up and high speed internet services (590,000 users). It was awarded a 3G mobile licence in October 2006 and launched limited services earlier this year. It plans to bundle all its offerings into a quad-play package of voice, data, TV and mobile services. It also says it expects its 3G network to have 50% population coverage by mid-2008.

Romania, RCS&RDS (DIGI)