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Saturday, March 12, 2005

Elran to invest in Romanian TV venture

As you remember, some months ago there were some rumours about UPC buying Astral...well, nothing happened so far, but it seems the Romanian TV market is becoming an interest to potential investors. Here is an exerpt from an article in the Israeli press about two Israelian companies investing in Romanian TV venture.

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Elran and Miloumor companies from Israel have an agreement to collaborate in a venture to set up in Romania a venture for multi-channel television (DBS) via satellite.

Elran and Miloumor will establish a company in equal shares, or will acquire at least 90% of an existing Romanian company. The parties have pledged to provide the Romanian company up to $10 million, in equal shares, and have established a dilution mechanism in the event that one party fails to inject its share.

Miloumor, controlled by Freddi Robinson, and Elran, controlled by Dori and Dan Dankner, are negotiating the acquisition with a third party through an allocation of shares in a Romanian-registered private company that launched the venture to provide multi-channel television by satellite. If these negotiations lead to an agreement, it will not affect the parties' financial commitments.

Romania currently has four cable television stations providing analog broadcasts.

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Posted by Mihai : 3/12/2005 01:35:00 pm