The Romanian government approved Deutsche Telekom AG's plan to sell its about 54% stake in Telekom Romania Communications SA to Orange SA, Romania Insider reported, citing information acquired by Economica.net from sources.
The decision comes after Deutsche Telekom board member Srini Gopalan, who is in charge of the German company's European business, discussed the transaction with Alexandru Petrescu, Romania's communications minister.
Officials from Deutsche Telekom and Orange will visit Romania in the coming weeks to close the transaction.
Deutsche Telekom is also looking to sell another mobile subsidiary, Telekom Mobile, to Bulgarian businessman Spas Roussev. Telekom Romania owns about 70% in Telekom Mobile, while OTE, operating as Cosmote SA, owns the 30% stake.
Deutsche Telekom also owns a 40% stake in OTE.
