Romanian telecommunications services provider Digi Communications [BSE:DIGI] said it has signed an agreement for the acquisition of a 99.99% stake in Telekom Romania Mobile from its Greek peer Hellenic Telecommunications Organization.
The acquisition will be made through West Network Invest, an investment vehicle majority-owned by Digi and minority-owned by Romanian group Clever Media, Digi said in a statement filed with the Bucharest Stock Exchange on Monday.
After the completion of the transaction, whose value was not disclosed, Telekom Romania Mobile will remain in the market as an independent telecommunications operator, as per the statement.
The deal is subject to closing conditions, including the finalisation of the due diligence process and obtaining the necessary approvals from competent authorities.
Last month, Digi Communications said that its Spanish unit had concluded the sale of a Fibre to the Home network to a consortium comprising global financial conglomerate Macquire Capital along with asset managers abrdn and Arjun Infrastructure Partners for up to 750 million euro ($815.6 million).
Digi's shares traded 0.59% higher at 68 lei ($14.86/13.67 euro) as at 1543 CET May 28 on the Bucharest bourse.
Source: https://seenews.com/news/digi-to-acquire-telekom-romania-mobile-859105