Telecom company UPC Romania has closed an agreement to take over the Suceava-based company Novasat, which is one of the largest independent TV cable providers in Romania.

UPC adds 20,000 subscribers to its current network of 1.9 million subscribers.

In the first half of 2015, UPC also added about 21,000 TV and internet subscriptions to its portfolio by taking over several small companies active in the field.

UPC is part of Liberty Global group and is one of the largest cable TV and fixed internet and telephony providers in Romania. Its main competitors are Romanian group RCS&RDS and Deutsche Telekom.

The company has planned investments of over EUR 35 million in 2015, to expand its network coverage area. It had a turnover of close to EUR 110 million and EUR 46 million losses in 2014.

editor@romania-insider.com