United Group and investment company PPF are the remaining bidders for Telekom Romania Mobile Communications (TRMC) from Deutsche Telekom (DT) and Hellenic Telecommunications Organisation (OTE), reported Ziarul Financiar.
Sources speaking to the local paper said Bulgarian businessman Spas Roussev has also shown interest but pulled out after the invasion of Ukraine began. Roussev has connections to prominent Russian businessmen in private equity group VTB Capital, which seems to be the reason for the withdrawal.
United Group and PPF are reportedly pushing DT and OTE to lower the €200 million price tag for their Romanian operations, reported CommsUpdate.
OTE became the majority shareholder of TRMC after acquiring a sizeable 30% stake from Telekom Romania Communications in 2021, taking it to almost 100%.
CommsUpdate reported the divestment from OTE was a condition for Orange Group’s €296 million acquisition of a majority stake (54%) in Telekom Romania (now Orange Romania Communications) from the Greece-based OTE last September.
Orange demanded a partial refund of the final price it paid for Telekom Romania Communications, claiming it had overpaid once it went through the firm’s books.