OTE confirms that it is in advanced negotiations for the sale of Telekom Romania Mobile.

In a statement issued following a response to a request from the Capital Market Commission, it states that it is in negotiations with the Quantum Projects Group for the sale of the subsidiary of Telekom Romania Mobile (TKRM) in Romania.

The announcement in detail is as follows:

“The Telecommunications Organization of Greece S.A. (“OTE S.A.” or “Company”), in response to a request from the Capital Market Commission regarding the possible sale of the 100% subsidiary of Telekom Romania Mobile (TKRM) announces the following:

1. In recent years, OTE has been steadily striving to improve TKRM’s performance while exploring strategic options to ensure its long-term growth.

In this context, OTE is in negotiations with the Quantum Projects Group, controlled by Mr. Adrian Tomșa, owner of the major media group Clever Media in Romania, regarding the latter’s interest in acquiring TKRM. The parties have signed a Memorandum of Cooperation to facilitate the process and have submitted an application for approval by the relevant Romanian authorities.

2. In accordance with the law, the Company will immediately make the necessary announcements to the investing public, if and when the conditions are met.”