UPC completes Astral takeover after a year

UPC Romania, the number one on the local market of telephony, internet TV cable and satellite TV services (DTH), will merge by absorption, on October 1, with Astral Telecom and another 13 companies where UPC holds the majority stake, after the shareholders and partners of the 15 companies approved the move at the beginning of July, according to the merger project published in the Official Gazette. According to the evaluation conducted by JPA Audit si Consultanta (JPA Audit and Consultancy), mentioned in the merger project, UPC Romania was appraised last year at almost 100 million euros, while Astral Telecom and Astral Telecom Company were evaluated at 366.7 and 14.08 million euros respectively. The American company Liberty Global, owner of Liberty Media and of UnitedGlobalCom, UPC Romania’s majority shareholder, last year paid 341.9 million euros for the acquisition of Astral Telecom.