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Bucharest
January 23, 2022
BUSINESS

Romtelecom offers EUR 8 M for BOOM TV

In the restructuring plan drawn up by the Transylvania Insolvency Home, the liquidator proposes the initiation of talks with Romtelecom to sell the assets of the DTH Television Group, which is currently in insolvency. According to Money.ro, Romtelecom is the only company which has shown an interest in taking over the Boom TV operator and offers EUR 8 M to purchase the company’s assets. After the opening of the insolvency procedure, the number of subscribers dropped at a pace of 5,000 subscribers/ month. Although the number of subscribers who cancelled their contract with Boom TV ebbed, every month, at the end of October, the company had dropped under the psychological threshold of 100,000 subscribers, with average overdue payments of EUR 54/ subscriber. Furthermore, the doubtful quality of the portfolio is highlighted by the fact that, at the end of December 2010, over 90 pc of the clients unaccounted for were behind in payment by over 30 days, and overdue payments amounted to a total of over EUR 9 M.

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