ATHENS - OTE Group, the Greek telecommunications operator, has announced it is in negotiations to sell its mobile business, Telekom Romania Mobile, to Quantum (NASDAQ:QMCO) Projects Group (QPG). The disclosure was made public today through a filing with the Athens Stock Exchange following a request from Greek authorities.
The move comes after a memorandum of understanding (MoU) was signed between OTE and QPG, which is owned by entrepreneur Adrian Tomsa. Both parties are now awaiting approval from Romanian regulators to finalize the transaction. The agreement aims to ensure long-term growth and security for Telekom Romania's mobile business.
This development follows OTE's divestiture of a controlling stake in Telekom Romania's fixed network to Orange in September 2021, as documented by TeleGeography. The sale marked a significant reshaping of the telecommunications landscape in Romania.
OTE's decision to sell its remaining interest in Telekom Romania Mobile entirely to QPG underscores a strategic shift for the company as it seeks to consolidate its operations and focus on core markets. Details of the deal remain confidential post-MoU signing, and the market is closely watching for further announcements regarding the terms and implications of the sale.
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