LONDON: Hellenic Telecommunications Organization S.A. (OTE) has signed binding agreements with Vodafone Romania S.A. and Digi Romania S.A. for the disposal of its 100% stake in Telekom Romania Mobile Communications (TKRM) following the approval by the Romanian Competition Commission in July 2025.
Accordingly, TKRM will transfer to Digi the prepaid business, certain spectrum rights and part of the tower portfolio.
OTE will sell to Vodafone its entire stake in TKRM, (100% minus 7 shares held by S.N. Radiocommunicatii), and excluding the above assets transferred to Digi.
The combined enterprise value amounts to €70 million and is subject to customary adjustments at Completion, such as net debt, working capital and other costs & expenses/provisions. Completion of the transaction is expected at the beginning of October 2025.
Following completion, the net consideration will be distributed to OTE shareholders.
OTE’s Chairman and CEO, Mr. Kostas Nebis, noted: “We are pleased to have reached this important agreement, which is fully aligned with OTE’s strategic focus on optimizing its portfolio and enhancing shareholder value. I want to express my gratitude to the management team and the employees of TKRM for their dedication and achievements. The agreement with Vodafone and Digi will facilitate infrastructure investments, enable more efficient network development and enhance customer service, contributing to the ongoing digital transformation of Romania’s economy and society.”