Deutsche Telekom to sell Romanian fixed unit to Orange - report

Nieuws Algemeen Roemenië 2 SEP 2019
Deutsche Telekom to sell Romanian fixed unit to Orange - report

Deutsche Telekom has received the Romanian state's approval to sell its fixed-line telephony division, the former Romtelecom, to Orange Romania, writes local publication Economica.net citing sources in Telekom Romania. The approval from the local government, which holds a 45.99 stake in the fixed unit, was obtained following the visit of Srini Gopalan, a member of the Deutsche Telekom board, and Charalampos Mazarakis, the financial director of the OTE group. Both Telekom and Orange refused to confirm the sale.

The transaction is about to be finalised.

Sources say that the group will also soon decide to sell its mobile telephony division, former Cosmote Romania, to the Bulgarian businessman Spas Roussev, who has the backing of Russian investment funds. There is still no clear information about the future buyer of Telekom Romania's TV business.

An earlier report from Capital.gr said RCS&RDS was also interested in Telekom's units.  

The first rumors about Telekom's intention to sell its Romanian units appeared in May. 

Categories:

Algemeen

Companies:

OTE,  Cosmote,  Orange Romania,  RomTelecom,  Deutsche Telekom,  Telekom Romania

Countries:

Griekenland,  Roemenië

Tags:

M&A buyouts & divestments

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