RCS&RDS goes for London IPO

The telecommunications company offers cable television services, internet access, fixed line telephony services and satellite TV, through its DTH service Digi TV and is currently preparing the launch of its 3G mobile telephony services, which is due by the middle of 2008.
The listing is expected to take place in December and the company is aiming to get $500 million for 15 percent of its shares.
RCS&RDS got one of the 3G licenses available on the market and should launch commercial services of 3G mobile telephony by the end of 2007. Media reports have quoted company representatives as saying that the launch of the services had been postponed until the first half of 2008, without mentioning an exact date.
By the end of June, RCS&RDS reported 1.34 million cable TV customers, 1.73 million DTH customers, 590,000 clients for internet services and 820,000 users of fixed-line telephony services. In 2006, RCS&RDS had a turnover of $297 million.
The firm would be the second Romanian company to be listed on the London Stock Exchange after A&D Pharma listed in October 2006.

Roxana Mihul