OTE Telecoms announced that it has signed binding agreements to sell its 100% stake in Telekom Romania Mobile Communications (TKRM) to Vodafone Romania S.A. and Digi Romania S.A.
Based on the agreements:
– TKRM will transfer its prepaid business, certain spectrum rights, and part of its tower portfolio to Digi.
– OTE will sell its entire stake in TKRM, excluding the assets transferred to Digi and 7 shares, to Vodafone.
The combined enterprise value of the transaction reaches 70 million euros, subject to customary adjustments at completion for net debt, working capital, and other costs. The completion of the transaction is due early October 2025, and the net consideration will be distributed to OTE shareholders.
Kostas Nebis: The agreement will pave the way for infrastructure investments
The President and CEO of OTE, Kostas Nebis, noted: “We have reached an important agreement, which is aligned with OTE’s strategy to optimize its portfolio and create further value for shareholders. I would like to thank the Management and employees of TKRM for their dedication and contribution. The agreement with Vodafone and Digi will pave the way for infrastructure investments, allow for more efficient network development and enhance customer experience, contributing to the digital transition of the Romanian economy and society.”
