Communiqué - Orange Romania advances its convergence ambitions as it completes its acquisition of a 54% controlling stake in fixed operator Telekom Romania Communications
01 Octubre 2021 - 8:30AM
Communiqué - Orange Romania advances its convergence ambitions as
it completes its acquisition of a 54% controlling stake in fixed
operator Telekom Romania Communications
Press releaseParis, 30 September 2021
**THIS PRESS RELEASE WAS SENT ON 30/09/2021**
Orange Romania
advances its convergence
ambitions as it
completes
its
acquisition of a 54% controlling stake in fixed
operator Telekom Romania Communications
Orange announces today that it has completed its acquisition of
a controlling stake in the fixed operator, Telekom Romania
Communications (TKR). The closing of this deal will give Orange
Romania a 54% controlling stake in one of Romania’s leading fixed
telecom operators, with the remaining 46% stake retained by the
Romanian State. Orange has obtained approval from the relevant
authorities to enable it to complete the transaction for an
enterprise value as previously stated of 497 million euros, based
on 100% of TKR and its convergent customer base. This corresponds
to an equity consideration of €296m*.
This successful transaction will now herald the acceleration of
Orange’s strategy to be the preferred convergent services provider
in Romania, with a firm commitment from Orange to pursue its
investments in the Romanian telecommunications sector. Thanks to
this acquisition, Orange, as the number one mobile operator in
Romania and now with the combined strength of TKR’s fixed network,
will create a fully fixed and mobile convergent operator across
Consumer, Business and ICT** markets.
TKR is Romania’s second largest player in fixed telecoms with
revenues of €633m reported in 2020. Through its owned network
infrastructure, TKR provides fixed voice, broadband and pay-tv
services to around five million customers and its approximately
90,000 km fibre network connects almost three million households.
It also provides convergent services to close to 916,000
fixed-mobile convergent subscribers, as at 30 June 2021 through an
MVNO contract with Telekom Romania Mobile. These customers will be
migrated to Orange Romania’s network in due course shortly,
following the completion of the transaction.
Both companies will continue to operate as two separate legal
entities. Liudmila Climoc will continue her responsibilities as CEO
of Orange Romania. Today, the TKR Board of Directors has appointed
Mr. Andrei Popovici, as CEO of TKR.
Mari-Noëlle Jégo-Laveissière, Deputy CEO, in charge of Orange in
Europe, commented: “Today is a landmark day for Orange as this
acquisition will propel Orange Romania forward in its convergence
ambitions. Convergence is the key to our growth across Europe, and
Romania is a key part of the Group’s European success story.”
Liudmila Climoc, CEO, Orange Romania, commented: “We are part of
a defining moment not only for Orange, but for the entire telecoms
market in Romania. I am very proud that Orange Romania and TKR
teams have reached this point. We now move forward together, as a
joint force and with a common goal – to be the first choice for
convergent services in Romania. Together, we will build for our
customers a complete offer with extended fixed coverage, mobile
services from Orange, including expanding 5G coverage, more varied
TV content and ICT solutions that support the digital
transformation of businesses and public administrations.”
* This corresponds to a purchase price of €268m, on a debt-free,
cash-free basis** ICT– Information Technology and
Communications
About Orange Orange is one of
the world’s leading telecommunications carriers with a turnover of
€42.3 billion in 2020 and 139,000employees as at June 30, 2021, of
whom 80,000 are in France. The Group had a total customer base of
263 million customersas of June 30, 2021, including 218 million
mobile customers and 22 million fixed broadband customers. The
Group is presentin 26 countries. Orange is also a leading provider
of global IT and telecommunication services to multinational
companies,under the brand Orange Business Services. In December
2019, the Group presented its new "Engage 2025" strategic
plan,which, guided by social and environmental accountability, aims
to reinvent its operator model. While accelerating in growthareas
and placing data and AI at the heart of its innovation model, the
Group will be an attractive and responsible employer,adapted to
emerging professions.
Orange is listed on Euronext Paris (symbol ORA)
and on the New York Stock Exchange (symbol ORAN).To find out more
(online and via your mobile device), go to: www.orange.com,
www.orange-business.com or to follow us onTwitter:
@orangegrouppr.Orange and any other Orange product or service names
included in this material are trademarks of Orange or Orange
BrandServices Limited.
Press contactsvanessa.clarke@orange.com, +44
7818 848 848tom.wright@orange.com, +33 6 78 91 35 11
- PR_Orange_TKL_closing_EN_300921
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