RCS&RDS denies reports of Vodafone buyout

9 May 2014

Romania Cables Systems (RCS&RDS) has denied local media reports suggesting that it has been sold to UK-based Vodafone Group. Earlier this week credible reports emerged suggesting that the cableco – which is controlled by reclusive former ice cream salesman Zoltan Teszari – had agreed to sell its assets to Vodafone for upwards of EUR1 billion (USD1.4 billion).

TeleGeography notes that RCS&RDS, which also offers mobile connectivity services in the country, recently signed a national roaming contract with Vodafone Romania. If realised, the acquisition of RCS&RDS – Romania’s largest broadband operator by subscribers – would complement Vodafone’s ongoing strategy of snapping up fixed line assets in its key European markets. In recent months the UK telecoms giant has lined up deals for the likes of Kabel Deutschland and ONO of Spain.

Romania, Vodafone Romania, Vodafone Group, Romania Cable Systems (RCS&RDS),

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