Vodafone Group PLC's (LSE:VOD) Romanian entity is teaming up with Romanian telecoms group Digi Romania on a potential acquisition of parts of mobile network company Telekom Romania.
Vodafone, Digi and Telecom Romania’s Greece-headquartered parent company Hellenic Telecommunications have signed a Memorandum of Understanding (MoU) ahead of a possible deal.
Due diligence is required before any deal progresses to the next stage
It comes despite Vodafone's intention to wind down significant portions of its European operations to pare back underperforming assets and pay down Vodafone’s extensive debt pile.
Most recently, Vodafone has disposed of its Spanish operations, but is also looking to reduce its footprint in Germany and Italy.