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HLTOY Hellenic Telecommunication Organization SA (PK)

7.53
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hellenic Telecommunication Organization SA (PK) USOTC:HLTOY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.53 6.85 7.47 152 21:14:29

Orange to Buy 54% Stake in Telekom Romania

09/11/2020 7:47am

Dow Jones News


Hellenic Telecommunicati... (PK) (USOTC:HLTOY)
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By Mauro Orru

 

Orange said Monday that its Romanian subsidiary Orange Romania has signed a deal to acquire a 54% stake in Telekom Romania Communications.

The French telecommunications company said it would pay 268 million euros ($318.3 million) for the stake, based on an enterprise value of EUR497 million for 100% of Telekom Romania Communications.

Orange is buying the stake from Greece's Hellenic Telecommunications Organization S.A. and said the deal is expected to be completed in the second half of 2021. The remainder of Telekom Romania is owned by the Romanian state.

"This is a significant milestone for the Romanian telecom market that will enhance its attractiveness both in terms of converged telecoms services and high quality infrastructure, while increasing competition," said Orange Romania Chief Executive Liudmila Climoc.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

November 09, 2020 02:32 ET (07:32 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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