Romtelecom in negotiations to take over Boom TV

Newsroom 21/12/2010 | 16:57

Romtelecom is currently in negotiations to take over the insolvent DTH Group, the company which runs Boom TV, according to media reports.

The negotiation starts from, the sum of EUR 6 million (no VAT) on condition that the number of Boom subscribers does not fall below 99,000. “The minimum price for the company’s assets will not be lower than EUR 6 million plus VAT, on condition that the buyer takes over 99,000 subscribers. If the number of subscribers is lower than 99,000, the sale price could be reduced with EUR 60.60 per each subscriber,” according to a document from the Casa de Insolventa Transilvania, that is in charge with the DTH insolvency case.

Romtelecom will take over only the Boom TV subcribers and not also the employees of the company, who will be made redundant, according to an article in Adevarul daily.

At the moment, DTH Television has debts of EUR 95 million, most of which towards Unicredit Tiriac Bank and Union des Association Europeenes de Fotbal, according to the same source. DTH Television entered in insolvency in May 2010.

This is not the first takeover of Romtelecom in DTH Group. The operator also acquired previously Second League of the Romanian soccer championship. See more on this issue here.