Greece’s OTE has finalised the acquisition of a 30% stake in Telekom Romania Mobile Communications (TRMC) held by Telekom Romania Communications (TKR).
The transaction is a required condition for the regulatory approval of the sale of the 54% stake OTE holds in TKR to Orange Romania.
As a result of the transaction, OTE now controls nearly 100% of TRMC, whose equity value stood at €58.9 million.
As previously reported by Broadband TV News, OTE agreed to sell its 54% stake in TKR, Telekom Romania’s fixed line business, to Orange Romania last December for €268 million.
The transaction was approved by the European Commission (EC) in July on condition that TKR’s 30% stake in TRMC was divested as the latter is a direct competitor of Orange.