Deutsche Telekom gets state’s OK to sell Romanian fixed line subsidiary to Orange

Deutsche Telekom has reportedly received the Romanian state’s approval for selling its stake in the local fixed telecom services provider Telekom Romania Communications (TRC, formerly Romtelecom) to Orange.

Deutsche Telekom holds 54% of TRC and the Romanian Government holds the remaining 46% through the Communications Ministry.

Srini Gopalan, a member of the Deutsche Telekom (DT) board, responsible with the group’s business in Europe, met last week in Bucharest with communications minister Alexandru Petrescu to discuss the deal, sources within the group told Economica.net.

In the next weeks, DT and Orange officials will visit Romania to complete the deal. Separately, DT will likely decide to sell its local mobile subsidiary Telekom Mobile (formerly Cosmote) to Bulgarian businessman Spas Roussev, who is reportedly backed by Russian investment funds.

TRC owns 70% in Telekom Mobile and Greek OTE (in its turn 40% controlled by DT) own the remaining 30% stake.

(Photo: Shutterstock)