Telekom and Orange have officially notified the European Commission regarding the sale of the fixed services division of the German group to the French subsidiary, and now the European authorities are studying the received documents. According to the data provided by the European Commission when Telekom and Orange officially announced their intentions, at the end of this month there should be a final decision regarding the approval or rejection of the purchase request.
Telekom submitted together with Orange to the European Commission on July 5 the documents regarding the commitments it assumes following the transaction that is to be carried out. These documents should be the last that should reach the European Commission before the approval of the sale of Telekom's fixed services division to Orange, but only if the Europeans do not think to ask for other important information that would facilitate the approval of the project.
Telekom: Announcement of the European Commission for the Sale of Orange
Telekom will not directly transfer the millions of customers from its fixed services division to Orange, but instead an intermediary company will be created to take them over, and the Romanian state will become a shareholder in it. This company will later be taken over by Orange and the Romanian state will have a share somewhat equivalent to the value of the one it had in Telekom, or at least that's how things should be according to the explanations given by those who approved the project.
Through the fixed services division, Telekom also owns part of the shares issued by the mobile services division, so Orange and the Romanian father will become shareholders in that division as well, which is quite unusual. Orange would hold a large number of shares in a competing telecommunications operator, if they are not transferred back to Telekom so that the transaction can be approved and there are no problems from a competitive point of view.
Telekom will remain in Romania with its mobile services division that it could not sell to anyone, DIGI having some interest, but offered far below what the German group asked for.
