Vodafone inks deal to potentially acquire Romania Telekom Mobile

31st Oct 2024 08:08

(Sharecast News) - Vodafone announced on Thursday that its Vodafone Romania subsidiary and Digi Romania have signed a memorandum of understanding (MoU) with the Hellenic Telecommunications Organization (OTE) concerning a potential acquisition of parts of Telekom Romania Mobile.

The FTSE 100 telecoms giant said that under the proposed arrangement, Vodafone would acquire the majority of Telekom Romania, including a substantial portion of its assets, while Digi would secure specific assets from the company.

It said the agreement was in its preliminary stages, with further due diligence required before any formal transaction could proceed.

At 0947 GMT, shares in Vodafone Group were down 0.91% at 71.7p.

Reporting by Josh White for Sharecast.com.