Greece-based telecoms group OTE, a subsidiary of DT, on Monday announced an agreement to sell its 54-percent stake in Telekom Romania Communications for 268 million euros to Orange Romania, itself a subsidiary of France Orange.
A set price for 100 percent is 497 million euros corresponding to 268 million euros on a debt-free, cash-free basis, and subject to customary adjustments at the closing of the transaction, such as for net debt, working capital and pre-closing items, OTE said in a press release.
