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Vodafone Romania signs Memorandum of Understanding for acquisition of Telekom Romania Mobile Communications
Vodafone Romania has signed a Memorandum of Understanding for the acquisition of Telekom Romania Mobile Communications, including a significant part of its assets from the Hellenic Telecommunications Organization (OTE), Vodafone announced in a press release on last Thursday.
Digi Romania will also take over part of the assets.
"This is an important moment for the Romanian telecommunications market, with significant growth potential once this transaction is finalized. Ever since I took office as CEO of Vodafone Romania, I believed that the industry needs conditions that support the high level of 5G investments and the promotion of innovation. I am delighted with today's announcement, which proves once again that Vodafone is keeping its promise to Romania. We continue to invest and provide Romanians with services of the highest standards," said Achilleas Kanaris, CEO of Vodafone Romania, quoted in the press release.
The finalization of the transaction is conditional on a number of legal procedures, including the completion of due diligence and obtaining prior approvals from the competent authorities. At this stage, there are no further details on the final approval of the acquisition, given the early stage of the process, the source said.
At the same time, Vodafone says it will finalize investments of more than 200 million euros in Romania this year. The total investments over the 27 years of Vodafone's presence in Romania amount to more than 6.5 billion euros.