Athens-listed OTE Telecom leaves Romania

Athens-listed OTE Telecom announced connected Friday that it has signed binding agreements to merchantability its 100% stake successful Telekom Romania Mobile Communications (TKRM) to Vodafone Romania SA and Digi Romania SA.

Based connected the agreements, TKRM will transfer its prepaid business, definite spectrum rights, and portion of its portfolio to Digi. 

OTE, controlled by Germany’s Telekom, will merchantability its full stake successful TKRM, excluding the assets transferred to Digi, to Vodafone. 

The combined endeavor value of the transaction reaches 70 cardinal euros, subject to customary adjustments astatine completion for nett debt, working capital, and different costs. 

The completion of the transaction is expected astatine the opening of October, and the nett information will beryllium distributed to OTE shareholders.