UPC Romania, Three Subsidiaries To Merge By Absorption

Telecom operator UPC Romania and three of the companies it controls, namely Electron M. Bit Telecom, Sebmar and Cablevision of Romania (CVR), will merge on October 1 in a move to simplify managing proceedings and cut administration costs.

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“Following the merger, UPC Romania will consolidate its position on the Romanian telecom market, will increase its presence among providers of cable television services, fixed telephony and Internet and will be able to compete successfully against the main companies in the field,” the draft merger noted.

UPC Romania, subsidiary of Dutch UPC Holding, had over 1.66 million subscribers in March 2008.

Since its establishment 16 years ago, UPC Romania carried out investments exceeding EUR700 million.

The company plans to invest EUR40 million in 2008 to upgrade its network on the Romanian territory and to expand its digital cable TV service, UPC Romania’s general manager Jack Mikaloff said.

In 2007, UPC Romania carried out investments totaling EUR45 million.

The company’s main rivals in Romania are RCS&RDS and the country’s largest fixed telephony provider RomTelecom.

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