2K Telecom filed for bankruptcy in 2015

2K Telecom, owned by brother of ex-MP Sebastian Ghita, filed for insolvency in court

Newsroom 04/01/2017 | 21:26

2K Telecom, a company fully owned by Alexandru Ghita, brother of former MP Sebastian Ghita, filed for insolvency a few days before the end of last year. Sebastian Ghita has been missing since December 21. His last public appearance was in a video broadcast by Romania TV on January 2.

At the end of 2015, the telecom operator recorded a turnover of RON 95.2 million, down by 16.9 percent year-on-year, and the net loss increased to RON 7.92 million.

The company was in line to receive RON 33.1 million in claims, 33.3 percent less than in 2014, while liabilities increased by 30.8 percent to RON 234.2 million.

Alexandru Ghita is the sole shareholder. He paid RON 2.77 million to his uncle Vasile Domente for a stake representing 19.71 percent of the social capital of 2K Telecom. After the transaction, which was approved by shareholders in a 2015 meeting, Sebastian Ghita’s cousin increased his stake to 100 percent. 2K Telecom has a social capital of RON 14.5 million.

Aged 64, Domente is one of the most important businessmen in Buzau, with an estimated fortune of EUR 60 million. In August 2015, 2K Telecom sold its 4G license to RCS&RDS, which enabled the latter to provide 4G services to several cities. According to data published by RCS&RDS, the company paid EUR 6.6 million, the sum 2K Telecom had paid the Romanian state to obtain it.