Atlas Telecom, the new takeover target. Vodafone joins list of candidates

Romanian telecommunication company, Atlas Telecom Network Romania is in takeover talks with a number of companies. According to sources close to the matter, Vodafone Romania was the first to approach the telecommunication carrier about the acquisition options.
Contacted by Wall-Street, Pompiliu Tripa, managing director of Atlas Telecom Network Romania, said the company was in talks with a number of companies that had expressed interest in buying the telecommunication companies he runs.

“A takeover would be welcomed at this point, as it would help us grow stronger and increase the market opportunities available”, said Tripa.

Nevertheless, he didn’t confirm the information that Vodafone, Romania’s second largest mobile telecommunication operator has expressed its interest in buying Atlas Telecom.

Vodafone refused to comment on the matter.

“I can only confirm that we talked to a number of companies on a possible takeover of Atlas Telecom”, said Pompiliu Tripa.

Furthermore, the managing director of the telecommunication company based in Oradea, said it was normal to be considered a buyout of the company, “especially since everybody is in an acquisition spree”.

The intention of selling Atlas Telecom Network Romania appeared long time ago, and as the head of the company notes, the completion of a takeover deal is expected to take place soon.

As for the value of the company, which is part of a larger international group, Tripa said the amount is “pretty high”.

“We have made some calculation, but I cannot disclose them. Atlas Telecom’s business is evaluated at a pretty high amount”, said the head of the company.

Atlas Telecom Network Romania was established in 2000, and the majority shareholder is US-based Atlas Telecom. The remaining 41% stake is held by Pompiliu Tripa.

The telecommunication company reported 6.3 million euro turnover in 2007 (20.91 million lei) and losses of nearly 14.15 million euros (47.14 million lei).

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