Digi TV owner targets expansion

RCS/RDS has moved a step closer to securing the funding it needs to roll out 3G services in Romania and extend the reach of its DTH platform Digi TV, which is already available in six CEE countries. According to a local report, its owner Zoltan Teszari has pledged as collateral both his own shares, and the 78% stake in the telco he owns through Dutch-registered Cable Communications Systems, for a loan from 14 banks. RCS/RDS pulled out of a planned IPO in London last month, and subsequently announced it would secure a loan of up to €500 million through ING and Citibank London. However, this was oversubscribed. Local sources believe RCS/RDS to be worth €1.65 billion.