RCS&RDS, the communications company controlled by entrepreneur Zoltan Teszari of Oradea, used one of its investment vehicles, Integrasoft, in the deal.
RCS&RDS representatives did not answer ZF’s questions on the issue by edition close. Vesatel’s former shareholders could not be contacted.
Vesatel started operating in 2005, according to information previously available on its web page. “Since 2005, when our first client was connected to the Internet, we’re registered an impressive evolution. After 4 years, we are present in all the districts of Reghin, and thousands of families and companies can enjoy our services on a new structure that is also the best, optical fiber,” the website presentation reads.
In 2011, Reghin had 11,664 households and a stable population of 31,657 persons.
Vesatel had around 2,000-3,000 clients, according to information ZF got from a telecom market source.
According to Finance Ministry data, Vesatel in 2013 posted net profit of EUR1,803 amid EUR307,000 in revenue and an average number of 5 employees. According to the same source, Vesatel in 2012 generated almost similar revenue, but net profit revolved around EUR11,000.
In mid-2013, RCS&RDS had over 2.4 million clients or over 60% of the Romanian cable TV market, a position it gained both through constant purchases of smaller players and significant investment in the communication infrastructure.
RCS&RDS generated revenue of EUR476 million and net loss of EUR3.1 million in Romania last year, according to Finance Ministry data. The company had an average number of 9,374 employees in 2013.
The group controlled by Zoltan Teszari in 2011 took over the Sighisoara cable TV, telephony and Internet clients of Teleson, another company owned by former Democrat Liberal Party senator Petru Basa.
(English version by Catalina Apostoiu)