OTE in talks to sell Romanian mobile operations to local investor

Greek OTE, part of Deutsche Telekom, confirmed in a note to investors that it is in talks to sell 100% of its Romanian division Telekom Romania Mobile (TKRM) to local group Clever Media.

OTE says it has consistently strived to improve TKRM performance in recent years while exploring strategic options to ensure its long-term growth.

In this context, OTE conducted negotiations with Quantum Projects Group, a vehicle controlled by local entrepreneur Adrian Tomșa – the owner of the major Romanian media group Clever Media, regarding the latter's interest in acquiring TKRM.

To facilitate this process, the parties signed a Memorandum of Understanding, which was submitted to the competent Romanian authorities for approval. Romanian entrepreneur Adrian Tomşa is the owner of Clever Media, the company that operates the TV stations Look, Prima TV, Agro TV and Profit TV.

In September 2023, Babis Mazarakis, the CEO of Telekom Romania Mobile, denied that the Greek group OTE had any discussion with its rivals in Romania about a possible sale of operations in Romania and emphasized that the company's priority is to increase the business and customer base.

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