Ovidiu Ghiman, the company's Commercial Manager, confirmed the news that RCS&RDS will take out a syndicated loan worth $500 mln (€343.13 mln), which is currently being negotiated with a consortium that includes the ING and Citibank lenders. The company must invest in excess of $100 mln (€68.62 mln) to develop its 3G mobile phone service network.
"We plan to launch these services in the cities where we have the largest number of clients. We have a list of up to 60 cities in which to initiate mobile phone services once testing is concluded," said Ghiman. By year-end the company intends to launch its mobile phone services in 10-15 cities, including
Due to unfavorable market conditions, RCS&RDS recently postponed its listing on the London Stock Exchange (LSE), where it was to obtain $500 mln.
