Sweden - Southeast Europe News Site

Sweden - Southeast Europe News Site


to the news site of the Chamber of Commerce for Sweden - Southeast Europe in cooperation with Business Sweden and Governments and Organisations in SEE.

OTE plan to merge Romtelecom and Cosmote Romania

RomaniaPosted by Uvner Business Consulting Sat, June 11, 2011 10:25:30
OTE, the Greek telecommunication holding, made a proposition to the Romanian government to merge fixed-line telephony operator Romtelecom with Cosmote, according to a press release published by the Romanian Ministry of Communications and Information Society (MCSI). OTE also declined to buy the government's 45.99% stake in Romtelecom because of the difficult economic situation in Greece and its financial strategy to reduce its exposure to debt. The group may reconsider buying the stake if circumstances change, however.
OTE believes that the merger of Romtelecom and Cosmote will create synergy on the market through offering tariffs that are more attractive to users and will generate better profit. Read the whole PMR article here.

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Posted by Florin, Bucharest Mon, June 20, 2011 16:16:12

IsnĀ“t it time for the Greeks to sell off everything they can in the region and pay their debts?