RomTelecom, Cosmote win broadband tender for disadvantaged areas

9 Jul 2014

Romania’s Ministry for Information Society has awarded sister companies RomTelecom and Cosmote Romania contracts worth EUR83 million (USD118 million) to build broadband networks in disadvantaged areas, having beaten rival consortium bids from Direct One-Electrogrup and UPC Romania-Deloitte Audit-Connection Consulting, reports RomTelecom will design, construct and operate broadband networks in regions ‘1, 2 and 3’ for EUR35.6 million, while Cosmote will do the same in regions ‘4, 5, 6 and 7’ for EUR47.5 million, under a project plan to be completed by 2015.

Elsewhere, the Romanian duo’s Greek parent OTE has raised EUR700 million from international markets via a six-year fixed-rate bond. The issue was heavily oversubscribed, with total demand of over EUR2.5 billion.