Orange Romania on Monday announced that it signed a deal to acquire a controlling 54% stake in Telekom Romania (TKR) for a total of €268 million.
TKR is Romania’s second largest player in fixed telecoms with revenues of €622m reported in 2019. Through its owned network infrastructure, TKR provides fixed voice, broadband and pay-tv services to 5 million customers and its approximately 90,000 km fibre network connects some 3 million households. It also provides convergent services to approximately 881 thousand fixed-mobile convergent subscribers, as at 30 June 2020 through an MVNO contract with Telekom Romania Mobile. These customers will migrate to Orange Romania’s network, following the completion of the transaction.
Orange Romania reported €1.1Bn revenues in 2019 and is the number one mobile operator in Romania. Thanks to this acquisition Orange will accelerate its convergent operator strategy which, when combined with TKR’s fixed network, will create a fully infrastructure-based convergent operator across B2C, B2B and ICT markets. The future combined entity will aim to become the preferred choice of customers for convergent services in the Romanian market both for consumer and business segments.
Mari-Noëlle Jégo-Laveissière, Deputy CEO, in charge of Orange in Europe
This acquisition is an important step to accelerate our convergence strategy in Europe. Romania is a key market for Orange and a great success story.
Liudmila Climoc, CEO, Orange Romania
Orange Romania’s and Telekom Romania Communications’ network complementarity will allow us to bring together not only customers and teams, but also the best of expertise in terms of quality of service and future-proof mobile and fixed networks infrastructure.
