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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

OTE completes purchase of 30% in former Cosmote

Greek group OTE has completed the acquisition of the rest of 30% stake in Telekom Romania Mobile Communications (TRMC - formerly Cosmote) from Telekom Romania Communications(TRC), thus paving the way for the sale of TRC to Orange.

The price amounted to EUR 58.9 mln, slightly below the previously estimated EUR 59.5 mln, Profit.ro reported.

The deal involving the 30% stake in TRMC still not owned by OTE was requested by the European Commission as a condition for approving the sale of Telekom Romania Communications to Orange. Or else, Orange would have gained excessive power in the mobile telecom market, the EC argued.

The European Commission approved conditionally, in July, the sale of the 54% stake held by OTE in Telekom Romania Communications, Telekom's fixed networks division, to Orange Romania. The rest of 46% in TRM is owned by the Romanian state.

The total economic value of the company was estimated at EUR 497 mln (100% share), including the fixed-mobile converged customer base.

This corresponds to a purchase price to be paid by Orange of EUR 268 mln, adjusted for the excess or deficit of net cash and considering the adjustments that normally take place at the end of the transaction. 

(Photo: Tobias Arhelger/ Dreamstime)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

OTE completes purchase of 30% in former Cosmote

Greek group OTE has completed the acquisition of the rest of 30% stake in Telekom Romania Mobile Communications (TRMC - formerly Cosmote) from Telekom Romania Communications(TRC), thus paving the way for the sale of TRC to Orange.

The price amounted to EUR 58.9 mln, slightly below the previously estimated EUR 59.5 mln, Profit.ro reported.

The deal involving the 30% stake in TRMC still not owned by OTE was requested by the European Commission as a condition for approving the sale of Telekom Romania Communications to Orange. Or else, Orange would have gained excessive power in the mobile telecom market, the EC argued.

The European Commission approved conditionally, in July, the sale of the 54% stake held by OTE in Telekom Romania Communications, Telekom's fixed networks division, to Orange Romania. The rest of 46% in TRM is owned by the Romanian state.

The total economic value of the company was estimated at EUR 497 mln (100% share), including the fixed-mobile converged customer base.

This corresponds to a purchase price to be paid by Orange of EUR 268 mln, adjusted for the excess or deficit of net cash and considering the adjustments that normally take place at the end of the transaction. 

(Photo: Tobias Arhelger/ Dreamstime)

andrei@romania-insider.com

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