Cableco chooses loan over listing

7 Nov 2007

The Romanian cable operator RCS&RDS has cancelled its plans for a share listing on the London Stock Exchange and says it will apply for a EUR500 million (USD725 million) loan instead, citing weak market conditions as the reason behind its change of heart. It is now seeking a loan from a consortium of banks led by Citibank and ING, Business Standard Daily reports. Over half of the funds – around EUR300 million – will go towards the rollout of RCS&RDS’s 3G mobile network; the company secured a UMTS licence towards the end of last year.

Romania, RCS&RDS (DIGI)