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UPC Romania merges with Cablevision of Romania and other two companies

de A.C.
Miercuri, 2 iulie 2008, 18:38 English | Business

UPC Romania telecom operator will merge with Electron M. Bit Telecom, Sebmar and Cablevision of Romania, companies UPC already controls. Thus, the merger is meant to simplify the decision making process and to reduce administrative costs, Mediafax informs.

With this merger UPC Romania will consolidate its market position and will be able to compete at the national level with other important companies in the field, the merge contract reads. The project was set up and approved by administrators of the four companies on June 16 and the effects of the merger will be felt starting October 1.

On the Romanian market, UPC delivers cable and satellite services, internet, and digital wired telephony. In May this year, UPC Romania executive director Jack Mikaloff announced that UPC  would invest some 40 million euro to expand the company's network.

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