Mayer Brown advises Hellenic Telecommunications Organization on agreement to sell Telekom Romania Mobile Communications
London – Mayer Brown has advised Hellenic Telecommunications Organization S.A. ("OTE") on the agreements with Vodafone Romania S.A. ("Vodafone") and Digi Romania S.A. ("Digi") relating to the sale of its 100% stake in Telekom Romania Mobile Communications ("TKRM").
TKRM will transfer its prepaid business, certain spectrum rights and part of its tower portfolio to Digi. OTE will sell its entire stake in TKRM (minus seven shares held by S.N. Radiocommunicati and excluding the assets transferred to Digi) to Vodafone.
The combined enterprise value amounts to €70 million and is subject to customary adjustments at Completion, including net debt, working capital and other costs and expenses/provisions.
Approval by the Romanian Competition Commission was provided in July 2025 and Completion of the transaction is expected at the beginning of October 2025.
The Mayer Brown team was led by Corporate & Securities partner Ross Montgomery and included senior associate Giles Clifford, associate Priyanka Patel, IP partner Oliver Yaros and associate Ellen Hepworth, Tax partner James Hill and senior associate Tamar Ruiz and Litigation and Dispute Resolution senior associate Jonathan Cohen.
