Investor to build “strong Romanian brand” after taking over OTE’s mobile operations

Investor to build “strong Romanian brand” after taking over OTE’s mobile operations
OTE has confirmed its commitment to selling its mobile operations in Romania. / OTE
By bne IntelliNews November 23, 2023

Romanian entrepreneur Adrian Tomşa, who controls a group of investors united under Quantum Project, has pledged to transform Telekom Romania Mobile (TKRM) into “a local, dynamic, safe operator, dedicated to all domestic residential customers” if he succeeds in taking it over from OTE and Deutsche Telekom

At the same time, the new operator developed by Quantum Project will provide support for the large national digitisation projects that Romania needs, according to Tomşa.

Tomşa expressed "confidence" that he would obtain the necessary approvals from the National Security Council (CSAT) and from the competition body for the transaction. "We trust that the institutions of the Romanian state will favourably analyse this transaction as soon as possible, as all the necessary documents have already been submitted in this regard,” he said. 

In their turn, OTE and TKRM confirmed their commitment to selling the mobile operations in Romania to Tomsa and his partners. 

"We joined this negotiation process trusting that, once successfully concluded, such a transaction will secure Telekom Romania Mobile's future investments, continuity for the employees’ jobs, financing and the appropriate technological framework,” according to the message sent by OTE and TKRM and quoted by Ziarul Financiar.

“Therefore, the transaction will lay the foundations for long-term prosperity, healthy and stable growth, in an extended synergistic framework with the business currently carried out by the potential investor in the media, digital and telecom industries,” they added.