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Industry: Email Alert RSS FeedCosmoRom to be acquired by Cosmote.(GREECE)(Brief Article)
European Telecom, June, 2005
Cosmote Mobile Telecommunications SA, the largest wireless operator in Greece, has announced its plans to purchase a 70 percent stake in CosmoRom, the mobile operator in Romania.
The deal is valued at $150 million. CosmoRom is a subsidiary of RomTelecom that provides mobile services. RomTelecom is the fixed-line telecom operator in Romania. Hellenic Telecommunications Organization (OTE) of Greece has a 54 percent stake in the company. Cosmote is the subsidiary of OTE. Cosmote has stated that after the purchase is completed, part of CosmoRom's debt will either be capitalized or written off.
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