Acquisition-hungry ice cream man turns to Hungary to scoop up remainder of telco

29 Aug 2012

Romania Cable Systems (RCS&RDS) has been named as one of four entities that has acquired the bulk of the shares in Hungarian telecommunications company TvNetWork, the Romanian Business Review reports. RCS&RDS was joined by fellow shareholders Carose, which is based in the Netherlands, Trumbull Capital Advisers and Sjor Capital Limited, both of which are registered in Cyprus, to acquire 99.61% of the company in a concerted buyout offer. The offer, of HUF300 (USD1.34) per share was made through the company’s nominal owner DIGI Telecommunications on 29 June; previously the four owners held more than 85% of TvNetWork’s shares, and around 99% of the voting rights.

Citing information by the Budapest Business Journal, the publication notes that DIGI acquired 30% of TvNetWork as a strategic investor at the end of 2009 as a strategic investor, before taking over the company outright in July 2010 for an undisclosed sum.

RCS&RDS is owned by enigmatic Romanian tycoon Zoltan Teszar, who made his fortune running a chain of ice cream kiosks, and refuses to face-to-face contact with his fellow shareholders.

Hungary,DIGI (Hungary), RCS&RDS (Digi),

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share