DT obtains government approval for sale of Telekom Romania to Orange

2 Sep 2019

Deutsche Telekom (DT) has received approval from the Romanian government to sell its stake in Telekom Romania Communications to Orange, reports local business news website Economica, citing sources within the company. Srini Gopalan, a DT board member, is said to have met communications minister Alexandru Petrescu last week to discuss the deal, opening the way for a potential deal to be concluded in the coming weeks. DT owns a 54.01% stake in Telekom Romania Communications (formerly RomTelecom) through Greek telco OTE, while the Romanian government via the Ministry of Communications & Information Society (MCSI) controls the remaining 45.99%.

In a separate deal, DT is expected to sell its Romanian mobile subsidiary Telekom Romania Mobile Communications to Bulgarian businessman Spas Rousev, who is reportedly backed by Russian investment funds. Telekom Romania Mobile Communications (renamed from Cosmote Romania in September 2014) is owned by OTE (70.00%), with the remainder held by Telekom Romania Communications.