OTE Group signs MoU to offload Telekom Romania

Greek operator OTE Group inked an agreement to sell its Romanian mobile unit to Digi Communications.

In a stock market announcement, the Deutsche Telekom-owned operator will sell Telekom Romania to West Network Invest, an investment vehicle majority-owned by Digi and minority-owned by Clever Media Group.

Regulatory approval is currently being sought which is subject to various closing conditions.

OTE announced plans to offload its Romanian mobile asset half a year ago. Last year the company announced it had found a buyer but it failed to materialise. 

Telekom Romania is the fourth largest player in the market with a total base of 3.8 million units in its 2023 financial year, down YoY from 4.16 million. Total revenues  stood at €77.5mn in Q4, up 6.2% YoY.