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DIGI ROMANIA (FORMERLY RCS & RDS S.A.) TO ACQUIRE TELEKOM ROMANIA MOBILE COMMUNICATIONS S.A. FROM HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.
(IN BRIEF) Digi Communications N.V., a prominent European telecommunications company listed on the Bucharest Stock Exchange, has announced a significant preliminary agreement by its Romanian subsidiary, Digi Romania (formerly RCS & RDS S.A.). On May 27, 2024, Digi Romania signed a preliminary agreement to acquire a 99.9999994% stake in Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. The acquisition will be conducted through West Network Invest S.R.L., an investment vehicle majority-owned by Digi and minority-owned by Clever Media group. The completion of the transaction depends on several conditions, including due diligence, regulatory approvals, and the finalization of necessary documentation. If the transaction proceeds, Telekom Romania Mobile will continue to operate as an independent telecommunications provider in the market.
(PRESS RELEASE) BUCHAREST, Romania, 27-May-2024 — /EuropaWire/ — Digi Communications N.V. (“Digi” or the “Company”), one of the leading European telecommunications companies, listed on the Bucharest Stock Exchange, informs the market that, on May 27, 2024 Digi Romania S.A. („Digi”) concluded a preliminary agreement regarding the main terms and conditions for the acquisition by West Network Invest S.R.L., an investment vehicle majority-owned by Digi and minority-owned by Clever Media group, of a 99.9999994% stake in the share capital of Telekom Romania Mobile Communications S.A. („Telekom Romania Mobile”) from Hellenic Telecommunications Organization S.A. (the “Transaction“). The completion of the Transaction is subject to several conditions, including the finalization of the due diligence process, obtaining the necessary approvals from competent authorities, and the completion and signing of the documentation related to the Transaction.
According to the agreement between the shareholders of West Network Invest S.R.L., in the event the Transaction is completed, Telekom Romania Mobile will remain in the market as an independent telecommunications operator.
About Digi Communications N.V.
We are an European leader in geographically-focused telecommunication solutions, based on the number of revenue generating units (“RGUs”) and a leading provider of telecommunication services in Romania and Spain, with a presence also in Italy, Portugal and Belgium.
Contacts:
For Digi Communications NV
Phone no: +4031 400 4444
investor.relations@digi-communications.ro
Website:
Logo:
FAQs:
1. What is the recent announcement from Digi Communications N.V.?
Digi Communications N.V. announced that its Romanian subsidiary, Digi Romania (formerly RCS & RDS S.A.), has concluded a preliminary agreement to acquire a 99.9999994% stake in Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A.
2. When was the agreement announced?
The preliminary agreement was announced on May 27, 2024.
3. Who will acquire the stake in Telekom Romania Mobile Communications S.A.?
The stake will be acquired by West Network Invest S.R.L., an investment vehicle majority-owned by Digi Communications N.V. and minority-owned by Clever Media group.
4. What conditions must be met for the transaction to be completed?
The completion of the transaction is subject to several conditions, including the finalization of the due diligence process, obtaining necessary approvals from competent authorities, and the completion and signing of the related documentation.
5. What will happen to Telekom Romania Mobile after the acquisition?
If the transaction is completed, Telekom Romania Mobile will continue to operate as an independent telecommunications provider in the market.
6. What role does West Network Invest S.R.L. play in the acquisition?
West Network Invest S.R.L. serves as the investment vehicle through which Digi Communications N.V. will acquire the stake in Telekom Romania Mobile.
7. Who owns West Network Invest S.R.L.?
West Network Invest S.R.L. is majority-owned by Digi Communications N.V. and minority-owned by Clever Media group.
8. What is the significance of this acquisition for Digi Communications N.V.?
This acquisition aims to strengthen Digi Communications N.V.’s position in the Romanian telecommunications market by expanding its operational capabilities and market reach.
9. What does the preliminary agreement entail?
The preliminary agreement outlines the main terms and conditions for the acquisition, which include due diligence, regulatory approvals, and signing of the final transaction documents.
10. Where is Digi Communications N.V. listed?
Digi Communications N.V. is listed on the Bucharest Stock Exchange.
11. What regions does Digi Communications N.V. operate in?
Digi Communications N.V. operates in Romania, Spain, Italy, Portugal, and Belgium, providing telecommunications services and solutions.
12. How can I find more information about this announcement?
For more information, you can visit the official press release on EuropaWire.
These FAQs aim to provide a clear understanding of the recent announcement by Digi Communications N.V. and the implications of the preliminary agreement with Telekom Romania Mobile Communications S.A.
SOURCE: Digi Communications NV
Digi Communications N.V. announces the agreements concluded by Digi Romania (formerly named RCS & RDS S.A.), the Romanian subsidiary of the Company https://t.co/ZFzwSzCwSM #InvestorRelations #acquisition #Telecom pic.twitter.com/lnN9ZfHtkf
— EuropaWire (@europawire) May 27, 2024
#Acquisition: Digi Communications N.V. announces a preliminary agreement to acquire a 99.9999994% stake in Telekom Romania Mobile from Hellenic Telecommunications Organization https://t.co/ZFzwSzCwSM #TelecomNews pic.twitter.com/44LBaiHTn3
— EuropaWire (@europawire) May 27, 2024
Digi Romania teams up with Clever Media group to form West Network Invest for acquiring Telekom Romania Mobile. Deal hinges on due diligence and regulatory approvals https://t.co/ZFzwSzCwSM #TelecomIndustry #Investment pic.twitter.com/Y3jnldOcLF
— EuropaWire (@europawire) May 27, 2024
Following the #acquisition, Telekom Romania Mobile will continue to operate as an independent telecommunications provider in the market https://t.co/ZFzwSzCwSM #Telecom #BusinessNews pic.twitter.com/rjdpcQruo9
— EuropaWire (@europawire) May 27, 2024
The #acquisition of Telekom Romania Mobile marks a strategic move by Digi Communications to strengthen its presence in the Romanian telecom market https://t.co/ZFzwSzCwSM #BusinessStrategy #Telecommunications pic.twitter.com/LEgG8JhlJZ
— EuropaWire (@europawire) May 27, 2024
https://twitter.com/europawire/status/1795182925866021211
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