GTS Central Europe asks EBRD for EUR 50mln loan for network development

Telecom company GTS Central Europe, with operations in Romania, has applied for a long-term EUR 50 million loan from the European Bank for Reconstruction and Development (EBRD), which will go into the expansion of its network in Romania, Hungary, Poland and Slovakia, according to Mediafax newswire.

This loan will allow the operator to invest in new network applications, data centers and to diversify its portfolio of services.

The EBRD management will decide on granting the loan on March 27.

GTS Central Europe is present on the Romanian market via its arm GTS Telecom, which announced revenues of EUR 23.5 million on the local market in 2011, at a similar level to the financial indicators reported in 2010. Earnings before taxes, interest, depreciation and amortization (EBITDA) amounted to EUR 4.6 million.

GTS has an optic fiber backbone that exceeds 1,500 kilometers, after the acquisition of Datek Telecom in 2010. The operator also has Ethernet networks and radio coverage.
Otilia Haraga

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