Romtelecom SA, partially owned by Deutsche Telecom through OTE International, has acquired New Com Telecomunicatii SA for US$20 million.
New Com Telecomunicatii SA is an independent telecom operator, providing IPTV/triple play services to approximately 100,000 subscribers in Romania.
Romtelecom, partially owned by Deutsche Telecom through OTE International, is a company in full swing on the Romanian communications market. In recent years, Romtelecom has evolved intelligently, from being a former state monopoly to a sophisticated private company. Presently, it offers reliable, innovative and easy-to-use services, from the traditional fixed telephony to high quality internet; from digital TV to the most secure hosting data center in Romania; from voice and data bundled services to a permanently supervised and improved customer care program.
Oaklins' team in Bucharest advised the seller in this transaction, approaching over 30 investors, both financial and strategic, with the assistance of other Oaklins' teams. Given the financial status of the company (large shareholder and bank debt after having acquired and merged over 50 neighborhood telecom networks in order to gain market share), the Romanian team advised that an asset deal would be the best structure for a timely completion of the transaction.
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