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Athens, July 30, 2021 - Hellenic Telecommunications Organization S.A. ( OTE S.A. or the Company ), following its announcement on 28.7.2021 and in response to the Hellenic Capital Market Commission relevant request for clarifications, dated 29-07-2021, on European Commission s (EC) conditional approval for the sale of Telekom Romania Communications S.A. ( TKR ) to Orange, announces the following: 1) Following its investigation, the EC as it mentions in the related press release, found that the transaction between OTE and Orange Romania for the sale of the 54% stake OTE holds in TKR, as initially notified, would have raised serious competition concerns on the market for retail mobile telecommunications services. In particular, Orange would have acquired TKR s 30% minority shareholding in Telekom Romania Mobile Communications S.A (TKRM), one of its key competitors in the Romanian mobile market.
This article is brought to you in association with the European Commission.
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Telekom Romania Communications (“TKR”) by Orange SA (“Orange”). The approval is conditional on the divestiture of TKR’s 30% minority shareholding in Telekom Romania Mobile Communications (“TRMC”), which is a direct competitor of Orange.
Executive Vice-President Margrethe
Europeans
need access to fast and reliable communication services, with sufficient alternatives on the market. With this decision, and the commitments offered by Orange, the Romanian telecommunications market will continue to offer high quality communication services at competitive prices.”
Investegate |Hellenic Telecomms Announcements | Hellenic Telecomms: EU s approval for the disposal of Telekom Romania investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
Investegate |Hellenic Telecomms Announcements | Hellenic Telecomms: Dividend Distribution Of Fiscal Year 2020 investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.