Quoting Dominique Leroy, the head of the group’s European operations, Ziarul Financiar adds that it was finding the competition with Digi too fierce and would have had to have invested a significant amount in its fixed network.
With the money obtained from the sale, it will now be able to invest in other countries.
As previously reported by Broadband TV News, last November Greece’s OTE, which is a subsidiary of Deutsche Telekom, agreed to sell its 54% stake in Telekom Romania’s fixed-line business TKR to Orange Romania for €268 million.
At that time. TKR had 1.2 million and 930,000 subscribers to its TV and broadband services respectively.
The transaction valued TKR at €497 million and following its completion the Romanian state will retain a minority (46%) stake in the company.