Ice cream man confirms shareholder shake-up at RCS&RDS

11 Jun 2012

Romanian cableco Romania Cable Systems (RCS&RDS), one of the country’s dominant broadband providers, has confirmed a number of minor changes to its ownership structure, Ziarul Financiar (ZF) reports. Quoting a statement provided by RCS&RDS to the country’s National Audiovisual Council (CNA), ZF notes that enigmatic owner Zoltan Teszari has reduced his direct stake in the telco from 2.02% to 1.77%, whilst two other shareholders, Ghiman Ovid and Valentin Popoviciu, have both relinquished their stakes in the firm altogether.

Despite Teszari’s move, he remains the controlling shareholder through his ownership of the Dutch-registered company Cable Communications Systems NV, which holds an 88.54% stake in RCS&RDS; Teszari owns a 59.23% stake in the Dutch-registered firm through a company named RCS Management. The second largest shareholder in the company is RCS&RDS SA (7.83%), with 14 unnamed individuals and two unidentified companies also holding direct stakes.

Prior to assuming control of RCS&RDS, Teszari ran a chain of ice cream kiosks. It is believed that Teszari has not been photographed publicly for over a decade, and further, that he refuses face-to-face contact with his fellow shareholders.

Romania, RCS&RDS (DIGI)