Vodafone signs a Memorandum of Understanding to acquire Telekom Romania, including a significant part of its assets, according to a press release from Vodafone Romania sent to NINE O’CLOCK.
Vodafone Romania has signed a Memorandum of Understanding (MoU) as the first step towards acquiring Telekom Romania Mobile Communications, including a significant part of its assets from Hellenic Telecommunications Organization (OTE). Digi Romania will also acquire certain assets.
”This is an important moment for the Romanian telecommunications market – and when completed, this transaction would contribute to it growing even stronger. Since I took over as CEO of Vodafone Romania, I have always stated that the market needs consolidation to ensure the needed investment intensity and innovation for Romania to lead in the 5G era. I am excited about today’s announcement, which is another statement that Vodafone is committed to Romania and will continue investing and providing world class services for Romanians”, stated Achilleas Kanaris, CEO of Vodafone Romania.
- Through this transaction, Vodafone will further contribute to the creation of a stronger telecommunications market, to ensure the right scale for innovation and substantial investments in the future of the industry, consolidating Romania as European leader.
- The closing of the announced transaction is conditioned by a legal process, including the completion of due diligence and prior approvals.
The closing of the announced transaction is conditioned by a legal process, including the completion of due diligence and prior approvals, therefore there is no certainty at the moment on a final agreement. While following the necessary steps to acquire part of Telekom Romania’s assets, Vodafone remains committed to its presence in Romania and has planned investments of more than €200 million this year. Total investments throughout Vodafone’s 27 years of presence in Romania amount to more than €6.5 billion.
Athens Stock Exchange. “OTE announces that it has entered into negotiations for the sale of Telekom Romania Mobile with Digi and Vodafone Romania”:
Announcement of Regulated Information
Athens, October 31, 2024 – Hellenic Telecommunications Organization S.A. (“OTE”), following its announcement on 27 May 2024 regarding the potential disposal of its shareholding in Telekom Romania Mobile (“TKRM”, or the “Company”), announces that, following the decision of Mr. Adrian Tomsa to withdraw, OTE has entered into negotiations for the sale of TKRM with Digi Romania S.A (“Digi”) and Vodafone Romania S.A. (“Vodafone”).
The parties have signed a Memorandum of Understanding (MoU) and are in the process of filing for approval with the Romanian competent authorities (RCC, FDI, ANCOM). The MoU provides that certain assets of TKRM would be acquired by Digi, while remaining assets and the Company would be acquired by Vodafone Romania.
Completion of the transaction is subject to the signing of a Share Purchase Agreement and transaction documentation, as well as obtaining regulatory approvals.
In conformity with all applicable legislation and regulation, OTE will make all necessary announcements to the investor community as appropriate.
The announcement is issued as Regulated Information in accordance with the provisions of Law 3556/2007 [article 3, par. 1 (p), and article 21] and Regulation 596/2014 (article 17) of the European Parliament and of the Council on the abuse of the market.
FOR FURTHER INFORMATION:
OTE GROUP INVESTOR RELATIONS
Tel. +30 210-6118190, +30 210-6117364
E-mail: [email protected]
About Vodafone
Vodafone is the largest telecommunications company in Europe and Africa. We provide mobile and fixed-line services to over 330 million customers in 15 countries, work with mobile networks in 43 other countries and have one of the largest IoT platforms in the world. In Africa, our fintech platform provides services to over 79 million customers in 7 countries – handling more transactions than any other provider.
Our mission is to connect for a better future, using technology to improve lives, businesses and facilitate inclusive and sustainable digital societies. We are committed to reducing our environmental impact to achieve net zero emissions by 2040.
For more information, visit www.vodafone.com, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at www.linkedin.com/company/vodafone.
30.10.2024 / Editor, Andreea Dragan
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