EBRD helps bring cable TV and broadband internet services to Romania's regions; EUR15 million loan to Digital Cable Systems
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 04 April 2012
Release date- 03042012 - The EBRD is supporting the expansion of cable TV and broadband internet services and the development of the information and communication technologies sector in Romania with a EUR15 million loan to Digital Cable Systems (DCS), one of the leading cable TV operators in the country.
Romania is one of the leading countries in the world in terms of high speed internet access in larger cities. However, fixed broadband internet penetration is still low in Romanian regions and rural areas. The pay TV market in Romania is highly fragmented with approximately 480 operators in the country.
DCS currently operates in more than 2,000 localities covering 23 out of the 41 counties of Romania. The company was established in 2005 and is controlled by the private equity fund PineBridge New Europe Partners, in which the EBRD is a limited partner.
The EBRD loan will support DCS development strategy focusing on the extension of high quality cable TV services, including digital TV, and broadband internet in underserved regions. The project will also enable the company to implement further upgrades of its network, including the digitalisation of DCS' analogue TV networks.
'While the cable TV and broadband market is highly competitive in Romania's large cities, the rural areas remain underserved. This project will help address this regional divide and will give a boost to the competition in smaller towns and localities, to the benefit of the local residents and economy,' said Alain Pilloux, EBRD Managing Director for Industry, Commerce and Agribusiness.
'This loan is backing the Digital Cable Systems strategy of rapidly developing digital and IP services all over its footprint, offering in this way the full package of modern fixed communications on the market. DCS firmly believes in the opportunity and timing of this project, which will increase its competitiveness in serving both residential and business customers, especially SMEs, thus supporting the development of local communities,' said Dinu Malacopol, General Manager of DCS.
Since the beginning of its operations in Romania, the EBRD has committed EUR5.7 billion to various sectors of the country's economy, mobilising additional investment of over EUR10 billion.
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