On June 28, 2019, an application for opening an insolvency proceeding against Telekom Romania Communications SA filed by WSG MEDIACAST LIMITED, represented by Boerescu and Ciocodeica Law Firm, was filed with the Bucharest Tribunal.
This will have negative effects on TELEKOM’s image, and may even affect business partner relationships (mainly with vendors).
The action of WSG MEDIACAST LIMITED led to the registration of file No.19970 / 3/2019, for which the court set a first hearing on 21 November 2019.
Telekom Romania has been operating at a loss for some time now. In 2018, the telecommunication company reported 4,404 employees, compared to over 40,000 in 2000-2001, and losses of 122.97 million lei, with a turnover of 2.63 billion lei.