“Following the decision of the General Shareholders’ Assemblies of each of the two companies, Romtelecom and COSMOTE Romania announce their new official names. Thus, starting mid-September, both Romtelecom and COSMOTE will communicate under the same brand: Telekom Romania, while their legal entities’ names will be Telekom Romania Communications S.A. (replacing Romtelecom S.A.) respectively Telekom Romania Mobile Communications S.A. (replacing Cosmote Romanian Mobile Telecommunications S.A)”, the two companies said in a press statement.
The two Romanian telecom operators are controlled by Greek group OTE. German group Deutsche Telekom owns a 40% stake in OTE Group.
According to the statement, 43 corporate stores will undergo a complete makeover, in line with the new brand identity, out of which, seven concept stores will offer a hi-tech, interactive customer experience, according to Deutsche Telekom standards.
The two operators will also have one Call Center, one website and one social media presence for all fix and mobile users.
Romtelecom is one of the largest telecom operators in Romania. Its shareholding structure includes OTE Group, with a 54.01% stake, and the Ministry for Information Society, with a 44.99% stake.
In 2013, Romtelecom reported revenues worth EUR609.5 million, down 1.6% from 2012. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) reached EUR147.7 million last year, down 11.1% from 2012.
Cosmote Romania is the third largest telecom operator on the local market, after Orange Romania and Vodafone Romania.
In 2013, Cosmote Romania’s revenues inched down 0.9%, at EUR458.5 million. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at EUR119 million in 2013, down nearly 1% on the year.
Its shareholding structure includes Cosmote Group, part of OTE Group, with a 70% stake and Romtelecom, with a 30% stake.