Vodafone Group PLC (LSE:VOD) is set to expand its presence in Romania with the €30 million (£26.1 million) acquisition of Telekom Romania Mobile's post-paid customer base and key infrastructure assets.
The company has signed a binding agreement with Hellenic Telecommunications Organization (OTE) to take over Telekom Romania Mobile Communications, including spectrum and tower assets. Digi Romania will take on the prepaid customer business.
Vodafone said the deal will increase its local scale and unlock synergy benefits, helping to support future investment in its Romanian network.
Vodafone chief executive Margherita Della Valle said: “This transaction strengthens our position in Romania, by increasing our local scale and unlocking significant synergy benefits. It supports our strategy of building strong positions in growing markets, which enables us to invest in the high-quality networks our customers rely on.”
The transaction wraps up the Memorandum of Understanding signed by the parties in October 2024. Completion is expected in early October 2025.