The Romanian company RCS/RDS has received a $500 million (€340.3 million) loan from a consortium led by Citibank and ING, according to a local report. The funding, which was first announced late last year, will be used to both service existing loans and finance a 3G network in Romania. RCS/RDS is the second largest cable operator in Romania and also operates the DTH platform Digi TV both in its home market and five other CEE countries. It cancelled a planned IPO in London late last year following lack of interest, with prospective investors being surprised that the company planned to focus its efforts on the 3G network rather than expand Digi TV to more foreign markets.
