ARtelecom capital up to 14m euros

Internet provider ARtelecom has operated, early this month, a capital increase worth 384.3 billion ROL, from 229.5 billion ROL up to 577.8 billion ROL (14 million euros), by contributions in cash and kind. Also, some of the company’s debts to RomTelecom were converted into shares. “The contribution in cash made by the main shareholder RomTelecom and worth some 184.9 billion ROL (about 4.5m euros) will allow ARtelecom to continue and complete this year’s infrastructure development projects, namely the purchase of IT equipment and software applications,” ARtelecom general manager Voicu Albu said. ZF