Romania’s leading cable and DTH operator RCS&RDS will hold a general shareholders’ meeting on October 3 to discuss securing up to €600 million in new funding.
Quoting a statement published in the Official Gazette, Business Review reports that the money will be used partially or fully to restructutre the company’s debts, which amounted to some €1 billion last year.
It adds that shareholders will decide on the number of financing deals, with the funds being obtained from the capital markets or from banks or investments funds.
RCS&RDS’s debts in 2015 amounted to more than those of Orange and Vodafone combined in Romania but were lower than those of Cosmos.
It had a net loss of €5.15 million in 2015, or 67.7% less than a year earlier.
