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Cosmote Romania borrows 30 mln euro from majority shareholder

Miercuri, 17 mai 2006, 0:00

Mobile telephony operator Cosmote Romania signed a deal on Wednesday to obtain a 30 million euro from the Cosmote group as part of its funding program for 2006-2008. The Greek group will provide 400 million euro to its Romanian branch over the next couple of years and the 30 million deal belongs to this funding scheme.

Cosmote Romania relaunched its commercial operations in December 2005. By the end of last year, the company numbered some 50,000 clients, 30,000 of which were registered in the first three weeks since its launch on the market.

Greek group Cosmote has more than 8.2 million clients in SE Europe which makes it the mobile telephony operator with the most developed presence in the region, with operations in Greece, Bulgaria, Albania, Macedonia and Romania.

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