Orange wants back part of the money paid to OTE for Telekom Romania

French telecom group Orange has asked OTE to reduce by EUR 24 mln the final price for the majority stake of the Romanian telco Telekom Romania Communications (TKR, formerly known as Romtelecom), according to a document sent to investors by the Greek group, Ziarul Financiar reported. OTE said it is examining the application.

Orange's request comes several months after the French group was given full access to the company's financial statements and began to analyze the operator's accounts in detail once the integration operations had started.

Orange submitted the request on December 24, 2021, and is still awaiting a response from the Greek side. The contract between the two sides provides for this possibility of adjusting the final price.

Hellenic Telecommunications Organization (OTE) announced that the sale of its 54% stake in Telekom Romania Communications, the incumbent fixed-line operator formerly known as Romtelecom), to Orange Romania was successfully completed on September 30, 2021. The final equity consideration reached EUR 295.6 mln.

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