Greece’s OTE has raised €500 million from international debt capital markets via a seven-year bond issuance.
The situation at Telekom Romania is under control, according to Michael Tsamaz, the head of its parent company OTE.
OTE-backed Telekom Romania saw its TV subscriber base contract by 5.7% in the year to June 30.
Deutsche Telekom-backed OTE is set to receive up top four bids for its majority stake in Telekom Romania.
Greece’s OTE has asked companies interested in acquiring Telekom Romania to put indicative bids on the table.
The Greek telco OTE is preparing to sell its stake in Telekom Romania.
Telekom Romania had total revenues of €216.6 million in Q1, down 4.4% on the corresponding period last year.
Telekom Romania saw a 9% year-on-year fall in its revenues in Q4 2018.
OTE has agreed to sell its entire stake in Telekom Albania to the Bulgarian company Albania Telecom Invest for €50 million.
Telekom Romania had a challenging third quarter, while its parent company OTE’s recovery gathered momentum.