Quoted by ZF, he added that the funding will be allocated mainly for the development of mobile networks in Romania and Hungary, as well as the expansion of fixed infrastructure in the two countries.
Bulgar also said that it is difficult to offer an investment guide beyond 2018.
RCS&RDS is the leading cable and DTH operator in its home market Romania and also has a strong presence in the pay-TV and broadband sectors in Hungary.
In Romania, it expanded the reach of its fibre infrastructure to a further 100,000 homes in the first half of 2016.
Its fibre-optic network in Romania is around 64,000km long.