Romtelecom signs contract to buy Boom TV in Romania

Romtelecom has signed the agreement to take over the Boom TV platform, being the only bidder for the insolvent platform. The price of the transaction will be established based on how many Boom TV customers will be taken over through the deal. Romanian media previously announced Romtelecom had submitted a EUR 8 million offer (VAT excluded) for Boom TV, operated by DTH Television Group. The company’s patrimony has been assessed at EUR 7.32 million, plus VAT, which is also the minimum price. The buyer would take over 95,000 subscribers. In case the number of transferred subscribers will be lower than 95,000, the selling price will be reduced accordingly, using the rate of EUR 80.08 per subscriber. Boom TV is operated by DTH Television Group. The company entered insolvency in May last year, when UniCredit Tiriac Bank, Grecos Energy Telecomunicaţii and Eurocom Networks & Technologies have asked for its insolvency. The company had a EUR 18.5 million debt with UniCredit Tiriac Bank. Boom TV satellite tv platform was launched in 2006. editor@romania-insider.com