The telecommunications group Digi Communications (BVB: DIGI) has received from the Portuguese regulator the green light to buy the local company Carbonitel, the owner of the fourth-largest mobile and fixed telecommunications operator in the country Nowo Communications, from LORCA JVCO, according to a note to investors published at the Bucharest Stock Exchange.

The Portuguese branch of the Digi group, DIGI Portugal, concluded on August 1, 2024, a share purchase agreement with LORCA JVCO Limited for the purchase of 100% of the shares issued by Cabonitel at a valuation of EUR 150 million subject to customary adjustments and certain contingent events.

Nowo has around 270,000 mobile telephony clients and around 130,000 fixed telecommunications clients. 

Nowo also holds spectrum licences in 1800 MHz, 2600 MHz, and 3600 MHz frequency bands.

iulian@romania-insider.com

(Photo source: Digi)