Romanian RCS&RDS sells Croatian satellite TV company to Telekom Austria subsidiary

Romanian cable and satellite TV operator RCS&RDS has sold satellite TV firm Digi TV Croatia to Vipnet, which is itself a subsidiary of Telekom Austria. Last year, Digi TV Croatia generated revenues of around EUR 2 million, according to local news reports.

The value of the transaction was not made public at the request of RCS&RDS, according to the buyer, Vipnet. Digi TV Croatia has been in business since 2006 and has been provides exclusively satellite television service using Direct to Home (DTH) technology. "This acquisition is an important new step in the development of the company. Satellite technology extends the reach Vip TV services on the whole territory of our country," said Mladen Pejković, Vipnet CEO (in picture). RCS&RDS, controlled by Romanian businessman Zoltan Teszari, was created 15 years ago and operates on the Romanian market, as well as in Hungary, the Czech Republic, Slovakia, Croatia and Serbia. It offers cable TV , internet, fixed and mobile telephony services in 200 cities in Romania. Telekom Austria has revenues of EUR 4.3 billion in 2012 and a profit of EUR 103 million, after a loss of EUR 252 million in 2011. Vipnet was the first private mobile network operator in Croatia, having started operation in 1999. It now offers five-play services. Vipnet has been consolidating its position on the market, having acquired B.net, Croatia’s biggest cable operator, in August 2011. editor@romania-insider.com (photo source: Vipnet)