RCS&RDS is getting ready for a listing at the Bucharest Stock Exchange as a group of investors wants to sell 20-30 percent of the company's shares, writes local paper Ziarul Financiar citing sources from the financial market, according Telecompaper. RCS&RDS would sell the 20-30 percent stake until the beginning of May. According to market estimates, the transaction is valued at EUR 500-600 million an the company is valued between EUR 1.5 billion and EUR 2 billion.
A report published by the same paper at the beginning of March said RCS Management, the company through which Romanian entrepreneur Zoltan Teszari controls cable company RCS&RDS, plans to acquire up to 21,000 own shares for an amount of more than EUR 23 million. The report was based on an announcement published by the company in the country's official gazette.
Teszari holds 47 percent stake in the company. For 2015, RCS&RDS posted revenues of EUR 750 million and an EBITDA of 237 million. The company has operations in Romania, Hungary, Italy and Spain.
