OTE completes acquisition of 30% stake in Telekom Romania Mobile Communications

10 Sep 2021

Greek telco OTE has announced it now controls almost 100% of Romanian mobile network operator Telekom Romania Mobile Communications (TKRM) following the acquisition on 9 September of the 30% stake held by Telekom Romania Communications (TKR). The final purchase consideration, reflecting the equity value, stood at EUR58.9 million (USD69.6 million). The EC had made the transaction a required condition for regulatory approval of the sale of OTE’s 54% stake in Telekom Romania’s fixed business to Orange Romania.