OTE reportedly in negotiations for the sale of its Romanian subsidiary

OTE is in negotiations for the sale of its Romanian mobile phone company subsidiary, Telekom Romania, based on reports in the press of the neighboring country.

OTE is reportedly in negotiations with Clever Media Network, owner of the Romanian broadcaster, Prima TV.

OTE has neither confirmed or denied the reports.

However, the intention of the management of OTE Group to withdraw from the Romanian market is known, provided that a favorable sale agreement is reached.

In September 2021, OTE sold its 54.01% stake in the fixed telephony company Telekom Romania Communications (TKR) to Orange Romania, for 295.6 million euros.

Based on the nine-month figures, Telekom Romania Mobile contributes 8.2% of its revenues and just 1.3% of adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).

Telekom Romania Mobile’s total revenue in the nine months was 209.4 million euros, down 10.3% from a year ago, and adjusted EBITDA was 12.9 million euros, down 66.1%.