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March 3, 2021

Romtelecom allegedly make EUR 6 bid for BOOM TV

Romtelecom made a “maximum” EUR 6 M bid to take over the DTH Boom TV operator, according to a series of documents which incont.ro got hold of. The take-over cannot be completed if the number of Boom subscribers drops under 65,000 by mid-2011. At present, sources on the market argue Boom TV has no more than 70,000 subscribers, even if, in the summer, it boasted approximately 130,000 users, out of the 200,000 reported two years ago.

The bid was confirmed by the representative of the Transilvania Insolvency House, Andrei Cionca, who is in charge of restructuring Boom TV. “We did receive a take-over bid from Romtelecom, which the people at Boom are due to sign by the end of the year,” the latter stated.

According to Cionca, Romtelecom would take over only Boom TV’s subscribers, not the company’s employees, who will be made redundant. The DTH Television Group, the owner of the satellite digital television operator Boom TV, filed a claim for insolvency at the Bucharest Court on May 7, 2010. The reason: debts amounting, at the time, to over EUR 70 M. Romtelecom’s development manager, Ovidiu Ghiman didn’t want to comment.

According to the aforementioned documents, the owners of Boom TV would receive the maximum amount stipulated in the take-over bid, EUR 6 M (VAT not included), if the number of clients of the operator is “equal to or higher than 99,000”.

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