{"id":5670,"date":"2006-11-07T12:44:00","date_gmt":"2006-11-07T12:44:00","guid":{"rendered":"https:\/\/bm.dev.synology.me\/?p=5670"},"modified":"2026-04-02T09:12:58","modified_gmt":"2026-04-02T09:12:58","slug":"rcsrds-un-exercitiu-de-evaluare","status":"publish","type":"post","link":"https:\/\/bm.dev.synology.me\/?p=5670","title":{"rendered":"RCS&#038;RDS, un exercitiu de evaluare"},"content":{"rendered":"<p><SPAN class=text>  <P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify><STRONG>scenariul conservator<\/STRONG><\/P>  <UL>  <LI>  <DIV class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify>VALOARE: 680 mil. dolari (530 mil. euro)<\/DIV><\/LI>  <LI>  <DIV class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify><?xml:namespace prefix = st1 ns = \"urn:schemas-microsoft-com:office:smarttags\" \/><st1:place w:st=\"on\"><st1:City w:st=\"on\">METODA<\/st1:City> <st1:State w:st=\"on\">DE<\/st1:State><\/st1:place> CALCUL: Valoarea companiei (fara a scade datoriile) a fost obtinuta inmultind EBITDA grupului RCS&#038;RDS (2006) cu un multiplu de 6-7. Estimarea a fost facuta pe baza unui scenariu conservator, adoptat de Valeriu Ionescu, fostul manager al fondului de investitii AIG New Europe Fund, care detinea 25% din Astral Telecom in momentul vanzarii catre UPC (iulie 2005) <\/DIV><\/LI>  <LI>  <DIV class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify>VALOAREA ACTIUNILOR: Este mai mica decat cea a companiei si reprezinta diferenta dintre valoarea acesteia din urma si datoriile pe termen lung.<\/SPAN><?xml:namespace prefix = o ns = \"urn:schemas-microsoft-com:office:office\" \/><o:p><SPAN class=text><o:p>&nbsp;<\/o:p><\/DIV><\/LI><\/UL>  <P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify><STRONG>scenariul maximal<\/STRONG><\/P>  <UL>  <LI>  <DIV class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify>VALOARE: 900 mil. dolari (700 mil. euro)<\/DIV><\/LI>  <LI>  <DIV class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify><st1:place w:st=\"on\"><st1:City w:st=\"on\">METODA<\/st1:City> <st1:State w:st=\"on\">DE<\/st1:State><\/st1:place> CALCUL: Evaluarea este facuta pe baza unui multiplu mai mare decat in cazul UPC-Astral (7,8) si are drept justificare faptul ca interesul pentru acest domeniu este in crestere, iar numarul oportunitatilor de investitii in aceasta zona este redus. Scenariul este acreditat de investment banker-ului Marian Tescaru, managing partner la casa de investitii Altria Capital<\/DIV><\/LI>  <LI>  <DIV class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt\" align=justify>VALOAREA ACTIUNILOR: Este mai mica decat cea a companiei si reprezinta diferenta dintre valoarea acesteia din urma si datoriile pe termen lung.<\/DIV><\/LI><\/UL><\/SPAN><\/o:p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>scenariul conservator VALOARE: 680 mil. dolari (530 mil. euro) METODA DE CALCUL: Valoarea companiei (fara a scade datoriile) a fost obtinuta inmultind EBITDA grupului RCS&#038;RDS (2006) cu un multiplu de 6-7. Estimarea a fost facuta pe baza unui scenariu conservator, adoptat de Valeriu Ionescu, fostul manager al fondului de investitii AIG New Europe Fund, care [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[4967,4968],"class_list":["post-5670","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-rcsrds","tag-un-exercitiu-de-evaluare"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/5670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5670"}],"version-history":[{"count":1,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/5670\/revisions"}],"predecessor-version":[{"id":27036,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/5670\/revisions\/27036"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}