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News from Members PNSA advised Orange on the acquisition of a majority stake in Telekom Romania Communications

PNSA advised Orange on the acquisition of a majority stake in Telekom Romania Communications

by Popovici Nitu Stoica & Asociatii October 12, 2021

Website www.pnsa.ro

PNSA has advised Orange Group on the EUR 296m acquisition of a controlling stake in fixed operator Telekom Romania Communications from Deutsche Telekom’s OTE.

Through its owned network infrastructure, Telekom Romania Communications provides fixed voice, broadband and pay-tv services to 5 million customers and its approximately 90,000 km fibre network connects some 3 million households. It also provides convergent services to approximately 881 thousand fixed-mobile convergent subscribers. These customers will migrate to Orange Romania’s network, following the completion of the transaction.

PNSA provided extensive legal assistance under the Romanian law throughout the entire acquisition process, including on telecom & regulatory, teaming up with D’Ornano Partners law firm, led by its founding partner, François d'Ornano. Norton Rose Fulbright advised on the English law related aspects of the transaction.

PNSA core team led by Bogdan C. Stoica (M&A Partner) and Irina Ivanciu (Partner), has included lawyers from the corporate & commercial team: Ioana Avram (Senior Associate) and Claudia Salomia (Senior Associate); TMT & IP teams - Camelia Constantin (Managing Associate); competition team - Mihaela Ion (Partner) and Laura Ambrozie (Managing Associate); white-collar compliance & defence - Alexandru Ambrozie (Partner) and Ana Stoenescu (Senior Associate); Employment - Ioana Cazacu (Managing Associate); Data Privacy - Luana Dragomirescu (Managing Associate); Public Procurement – Ramona Pentilescu (Managing Associate), as well as other PNSA lawyers from the real estate, litigation and banking & finance PNSA departments.

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Popovici Nițu Stoica & Asociații is a leading Romanian independent law firm and has been at the forefront of the market since its incorporation in 1995.

Focusing traditionally on the private sector and foreign investment projects, Popovici Nitu Stoica & Asociatii is acknowledged by the vast majority of observers and peers as “the transactional law firm” among the market leaders. The Firm has constantly been involved in the majority of the M&A transactions in Romania from various industries such as Energy, Healthcare, Retail, IT, Financial Services, Telecoms and Real Estate.

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Orange’s press release is available here.

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