Orange Romania, a broadband internet service and mobile provider, agreed to acquire a 54% stake in Telekom Romania Communications, a Romanian telecommunications company, from OTE, a technology company, for €268m ($318m). The closing of the transaction is subject to customary condition precedents, notably antitrust clearance by the European Commission and other relevant authorities and is expected to be completed within the second half of 2021. “This acquisition is an important step to accelerate our convergence strategy in Europe. Romania is a key market for Orange and a great success story. This transaction confirms our long term commitment to the Romanian market. We are looking forward to contribute to the development of the telecoms sector through sustained investments in top performing network infrastructures and innovative services,” Mari-Noëlle Jégo-Laveissière, Orange Europe Deputy CEO.