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Cosmote Romania Says Zapp Acquisition Strengthens Competition On Telecom Mkt

Cosmote Romania officials on Friday said the acquisition of Zapp mobile network, operated by Telemobil company, will strengthen competition on the Romanian telecom market, adding Cosmote already filed the necessary papers to competent authorities in order to complete the transaction.
Cosmote Romania Says Zapp Acquisition Strengthens Competition On Telecom Mkt
17 iul. 2009, 13:36, English

"The acquisition of Zapp by mobile operator Cosmote will both strengthen competition and bring advantages for millions of Romanians who wish to benefit from improved communications services due to a wide range of 3rd Generation products, mainly in the field of mobile broadband," Cosmote officials said in a press release.

In early June 2009, Cosmote signed an agreement for the acquisition of Telemobil, operator of Zapp mobile network, which holds a 3G-license. The transaction amounts to EUR61 million, which will be paid for the company’s shares, as well as several debts and other financial obligations worth EUR146 million.

Romania’s Competition Council recently began an inquiry into the acquisition to check any potential law breach.