Vodafone signs a Memorandum of Understanding to acquire Telekom Romania, including a significant part of its assets

• Through this transaction, Vodafone will further contribute to the creation of a stronger telecommunications market, to ensure the right scale for innovation and substantial investments in the future of the industry, consolidating Romania as European leader.
• The closing of the announced transaction is conditioned by a legal process, including the completion of due diligence and prior approvals.

Vodafone Romania has signed a Memorandum of Understanding (MoU) as the first step towards acquiring Telekom Romania Mobile Communications, including a significant part of its assets from Hellenic Telecommunications Organization (OTE). Digi Romania will also acquire certain assets.

”This is an important moment for the Romanian telecommunications market – and when completed, this transaction would contribute to it growing even stronger. Since I took over as CEO of Vodafone Romania, I have always stated that the market needs consolidation to ensure the needed investment intensity and innovation for Romania to lead in the 5G era. I am excited about today’s announcement, which is another statement that Vodafone is committed to Romania and will continue investing and providing world class services for Romanians”, stated Achilleas Kanaris, CEO of Vodafone Romania.

The closing of the announced transaction is conditioned by a legal process, including the completion of due diligence and prior approvals, therefore there is no certainty at the moment on a final agreement. While following the necessary steps to acquire part of Telekom Romania’s assets, Vodafone remains committed to its presence in Romania and has planned investments of more than €200 million this year. Total investments throughout Vodafone’s 27 years of presence in Romania amount to more than €6.5 billion.