The privatisation of the Romanian incumbent telco Romtelecom, which is one of the leading providers of pay-TV services in the country, appears to have moved a step closer.
According to ZF, the Greek incumbent OTE, which is already a 54% shareholder in Romtelecom, has secured a bank loan of €900 million.
As a result, it will be able to continue servicing its debts without having to turn to Deutsche Telekom, which is a shareholder in OTE.
The Romanian state currently holds 46% of shares in Romtelecom. Although it values its stake at €1 billion, financial analysts put the figure at closer to €300 million.