Greecek incumbent OTE does not plan to buy Romania’s 49.99% stake in Romtelecom, but proposes instead to merge the fixed-line operator with mobile operator Cosmote Romania.
The ministry said OTE’s reasons for declining to buy the stake as being the…
Greecek incumbent OTE does not plan to buy Romania’s 49.99% stake in Romtelecom, but proposes instead to merge the fixed-line operator with mobile operator Cosmote Romania.
The ministry said OTE’s reasons for declining to buy the stake as being the region’s economic crisis and its debt reduction strategy.
OTE holds 54.01% in Romtelecom, while OTE’s mobile arm Cosmote owns 70% of Cosmote Romania. Romtelecom owns the remaining 30% stake in Cosmote Romania.
Romania announced last year its intention to sell its stake in the telecoms incumbent. At the time, the authorities said that if OTE would not buy the stake, it would be listed.
Romania had previously planned to float a stake in the telecoms incumbent in 2006, but the transaction never materialised
In May, media reports suggested that cable operator RCS&RDS was interested in the state’s stake.