Cosmote Mobile Telecommunications SA, the Greek mobile telecommunications company, and subsidiary of Hellenic Telecommunications Organisation SA (OTE SA), the listed Greece based telecommunications group, has agreed to acquire Telemobil SA (Zapp), the Romanian provider of integrated wireless communication services, from Saudi Oger Limited, the Saudi Arabian company engaged in construction, operation, maintenance, telecommunication, and utilities, for an deal valued at EUR 207m, including debt and other liabilities of EUR 146m.

In 2008 Zapp had a turnover of EUR 61m. The acquisition of Zapp with its 3G and CDMA licenses and infrastructure will allow Cosmote to expand its customer base by offering data and voice services in Romania. The transaction is subject to the approval of relevant Romanian authorities and regulatory approvals.

~ Mergermarket

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