Hellenic Telecommunications Organization (OTE) on July 29 announced in a statement that it accepts to acquire the 30% stake in Telekom Romania Mobile Communications (TKRM) from Telekom Romania (TKR), as proposed by the European Commission, Hotnews.ro reported. OTE already owns the rest of 70% in TKRM.

The EC proposed the deal on July 28 as a solution to unblock the deal by which OTE plans to sell its 54% stake in TKR to Orange.

The Commission said that if the 30% stake in TKRM ends in Orange’s hands, the French operator will gain too much power on the mobile segment of the Romanian telecom market.

The sale of the 30% stake to OTE is a possible solution proposed by the Commission, but not restrictive - in the sense that OTE may choose any other alternative that prevents the excessive concentration on the mobile telecom segment. Its statement, however, makes clear that the Commission’s solution is accepted.

“The completion of the 54% TKR sale to Orange Romania is expected within the next few months, once the execution of the EC remedy has been completed and the remaining conditions precedent have been met,” the company’s statement reads.

iulian@romania-insider.com

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