OTE Group Completes Sale of Subsidiary Telekom Romania Mobile

OTE Group connected Wednesday announced that it had successfully completed the merchantability of its subsidiary Telekom Romania Mobile Communications to Vodafone Romania. The transaction had been under dialog implicit the caller play and was expected.

The second acquires OTE’s full stake successful TKRM (100% minus 7 shares held by S.N. Radiocomunicații), while Digi Romania acquires the prepaid segment, definite spectrum rights, and portion of TKRM’s mobile basal station portfolio.

The total information for the merchantability of TKRM amounted to €70 million. Net proceeds, aft adjustments astatine closing, such arsenic nett debt, working capital, and different costs & expenses/provisions, amounted to astir €40 million, which will beryllium distributed to shareholders.