Romania’s RCS&RDS gained 200,000 cable subscribers by acquiring smaller networks in 2011.
According to ZF, it paid around €20 million for the networks, at an average of €100 per subscriber.
Furthermore, it has gone on to make several more acquisitions this year, four of which – Telemach, Euro Cable, Kabel Prodcom and Bitzone – have so far been made public.
In the case of Telemach, which was based in Piatra-Neamt, the business had over 30,000 subscribers and was worth over €2 million.
RCS&RDS is the largest cable and DTH operator in Romania and faces strong competition from both Romtelecom and UPC Romania.