As a result, OTE now controls almost 100% of TKRM. The acquisition of the 30% stake opens the way for the finalization of the operation whereby France’s Orange will acquire the majority stake from former Romtelecom – the fixed services division of Telekom Romania, thus, becoming a giant with an annual turnover of almost EUR2 billion and end-to-end fixed and mobile operations.
“The final purchase consideration, reflecting the equity value, stood at EUR58.9 million. The deal is a required condition for the regulatory approval of the sale of the 54% stake OTE holds in Telekom Romania’s fixed business to Orange Romania”, Hellenic Telecommunications Organisation SA (“OTE”) said in a statement.