Vodafone Group announced that its Romanian unit and rival Digi have signed a memorandum of understanding (MoU) with Hellenic Telecommunications Organization (OTE) to acquire its subsidiary, Telekom Romania Mobile Communications (TKRM). This move would reduce the number of market players in Romania to three.
In a stock exchange filing, Vodafone stated it is exploring the acquisition of specific parts of TKRM.
The terms of the MoU indicate that Vodafone could potentially acquire TKRM, including a substantial portion of its assets, while Digi would purchase certain assets from TKRM.
The parties still need to complete due diligence and discussions, emphasising that any potential deal is at an “early stage” and there is no certainty a transaction will be agreed upon.
Telekom Romania is Romania’s fourth-largest operator, with 3.8 million subscribers in 2023, down year-on-year from 4.16 million.
OTE has been working to divest its Romanian units, announcing in 2023 that it had secured a buyer, although a deal failed to materialise. In May, OTE announced it had signed an MoU with Digi to sell its unit.