Vodafone and Digi Romania have announced that they have entered into binding agreements with OTE to acquire separate parts of its subsidiary, Telekom Romania Mobile Communications (TKRM).

Vodafone will acquire TKRM and its post-paid customer base, while Digi will takeover its pre-paid customer business.

Both businesses are also set to gain additional spectrum and towers as part of the transaction.

Chief executive at Vodafone, Margherita Della Valle, said: "This transaction strengthens our position in Romania, by increasing our local scale and unlocking significant synergy benefits. It supports our strategy of building strong positions in growing markets, which enables us to invest in the high-quality networks our customers rely on."

The transaction is set to complete in early October.

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