DNT in talks with Astral Telecom

Dynamic Network Technologies (DNT) this week could sign an agreement with Astral Telecom to lead to the creation of the largest Internet Service Provider in Romania, if DNT shareholders accept the offer made by the Romanian cable operator. DNT’s takeover will be done by stock swap plus payment in cash.

Following this transaction, the Soros Foundation, which is DNT’s main shareholder, would hold nearly one third in the company, Matei Paun, DNT general manager, told Ziarul Financiar.

“Due to the price paid and to the shares swapped within this agreement, the value of the new company ranges between $25-30 million. Where DNT is concerned, this business is estimated at $8-11 million,” Paun added.

According to the DNT official, the company had several offers, of which the one made by Astral is most likely to be accepted. “We made DNT an offer, but the ball is in their yard now, ” Radu Cristian, Astral Telecom general manager, told Ziarul Financiar. “We’ll have an official announcement in two weeks, perhaps.”