UPDATE: Romtelecom has taken over Boom TV, official announcement out now

Newsroom 03/03/2011 | 15:30

UPDATE: Romtelecom has taken over Boom TV, the company announced officially.

“Romtelecom has signed with DTH Television Group the contract for taking over the assets and customer base of Boom TV. The total price of the transaction will be established function of the number of customer who are taken over. Romtelecom has notified the Competition Council regarding this takeover based on the offer that was submitted,” goes the official announcement of the company.

Romtelecom was in negotiations to take over Boom TV. Media reported the company was willing to pay between EUR 7.3 and EUR 8 million (no VAT) for the takeover.

The negotiations took place via Casa de Insolventa Transilvania, which is currently representing DTH Television Group, the company that runs Boom TV, which is now insolvent. At the moment, DTH Television Group has debts of more than EUR 100 million.

Romtelecom made this turnover in order to add to its customer base the 95,000 subscribers of Boom TV.

This is not the first negotiation between Romtelecom and Boom TV, there was one two years ago which failed to come to a result.

Romtelecom posted revenues of EUR 716.9 million in 2010, which represented a decrease of 8.4 percent, according to a report of the Greek company OTE. The number of DTH Dolce television customers surpasses 1 million. See more on Romtelecom’s financial results here.