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OTE wants to take over Telekom Romania Mobile Communications
Quantum Project, a project company controlled by Romanian entrepreneur Adrian Tom?a, announces that it has signed a binding agreement with OTE, a telecommunications company subsidiary of Deutsche Telekom, for the acquisition of a 99.9999994% stake in Telekom Romania Mobile Communications. The completion of the transaction is subject to obtaining all necessary approvals from the competent institutions of the Romanian State, in parallel with finalizing the terms of the document.
On November 21, 2023, the transaction was officially announced by OTE on the Athens Stock Exchange (ATHEX), following legal procedures.
In a press release, Hellenic Telecommunications Organization S.A., in response to the Hellenic Capital Market Commission request, announced: “Over recent years, OTE has consistently strived to improve TKRM performance while also exploring strategic options, to secure its long term growth. In this context, OTE has been negotiating with Quantum Projects Group, controlled by Mr. Adrian Tom?a, the owner of the major Romanian media group Clever Media, regarding the latter’s interest in acquiring TKRM. The parties have signed a Memorandum of Understanding, in order to facilitate this process and have filed for approval with the Romanian competent authorities. In conformity with all applicable legislation and regulation, the Company will make all necessary announcements to the investor community if and when relevant”.
“We trust that the Romanian State institutions will favorably review this transaction as soon as possible, with all necessary documents already submitted for this purpose. Maintaining Telekom Romania Mobile Communications as a distinct player in the market, without being absorbed by any of the other telecom groups present in the Romanian market, will allow the preservation of a competitive market environment for the benefit of all users in Romania,” stated Adrian Tomsa in his turn.
The significant number of investors interested in acquiring the company operated by OTE in recent years certifies its potential. Romanian entrepreneurs involved in the Quantum Project intend to build and strengthen a powerful, 100% Romanian brand dedicated exclusively to local customers.
‘The interest in Telekom Romania Mobile Communications expressed by multiple investors in recent years only serves to demonstrate and reinforce the potential of the company and the Romanian telecommunications market. Once the acquisition is completed, we will initiate the process of transforming the company into a local, dynamic, secure operator dedicated to all domestic residential customers and, at the same time, providing support for the major national digitization projects that Romania greatly needs. By taking over these operations, we will develop a 100% successful Romanian project, with the hope that this model will inspire confidence and serve as an example for the Romanian entrepreneurial spirit. On this occasion, I would like to thank all our project partners who will make this transaction possible,” added Adrian Tomsa.
The documentation regarding the acquisition of Telekom Mobile Romania by Quantum Projects has reached the Competition Council. The president of the authority, Bogdan Chiritoiu said that the transaction will be analyzed from the perspective of state security, and a decision will likely be made at the beginning of next year.
“We have received the documentation regarding Quantum Projects SRL’s intention to acquire Telekom Romania. In the coming period, we will analyze to what extent this transaction can be realized and how it affects competition in the market. We will make a decision, most likely, at the beginning of next year. In addition, it should be noted that this is a strategic area, and, as a result, the Commission for the Examination of Investments will conduct a security analysis,” stated Bogdan Chiritoiu, President of the Competition Council, to HotNews.ro on Wednesday.