Deutsche Telekom subsidiary OTE Group announced it is negotiating the sale of its subsidiary Telekom Romania to Quantum Projects Group (QPG) following a request to make the announcement public from Greek authorities.
In a stock exchange filing on the Athens stock exchange, OTE detailed that it had signed a memorandum of understanding with QPG for the latter's potential acquisition of OTE’s Romanian mobile business.
OTE stated that QPG is owned by Adrian Tomsa, the owner of Romanian media group Clever Media.
The operator said it had “consistently strived to improve” Telekom Romania’s performance while also exploring strategic options to secure long-term growth. After signing the MoU, both parties are now awaiting approval from Romanian authorities to continue the sale process.