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Romtelecom, Cosmote merge under Deutsche Telekom brand. [IntelliNews - Weekly Reports](IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Telekom Romania is the name of the group formed under the Deutsche Telekom umbrella by incumbent telecom operator Romtelecom Romania and its mobile division Cosmote, daily Ziarul Financiar reported. Telekom Romania Communications and Telekom Romania Mobile Communications are the new names of the two entities - which have not merged yet in legal terms but will operate as a single business entity providing integrated services. The group already launched its range of products. There will be no price war, the CEO of the two companies Nikolai Beckers announced – but the group will offer the widest range of products. Its main rivals offer only mobile services and have no room to grow, Beckers said, pointing to the other major mobile operators in the country - Orange and Vodafone. Deutsche Telecom holds 40% in OTE Greece – which on its turn holds the majority stake in each of the two Romanian companies that reported cumulative revenues of EUR 1.07bn in 2013. Romania's government still holds 45.99% in Telekom Romania Communications [formerly Romtelecom] and is currently in a process of deciding how to sell the stake – by direct negotiations or on the stock exchange. While officials were more inclined to floating the company's shares on the bourse, they currently seem to prefer direct negotiations with investors. A consortium formed by brokerage firms SIF Swiss Capital, UBS Limited, BT Securities and law firm Musat si Asociatii was hired by the government in February to provide consultancy services for the privatisation. The consortium had to make the final privatisation recommendation by August 11, but the deadline was postponed possibly amid the two companies' merger. (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info). |