The Competition Council is analyzing the antitrust issues raised by the merger, and whether the competitive effects of the transaction comply with the antitrust regulation. A decision in this matter is due to be made within 30 days since the notification is deemed effective.
Cosmote Group signed recently the acquisition agreement of Telemobil carrier, that administrates Zapp telecommunication network.
Under the provisions of antitrust law (no21/1996), all transactions that exceed the values set forth by the law are subject to regulatory approval and must be notified to Competition Council, for the review of their compliance with a normal competition framework.
These are compliant if the combined turnover of the parties involved in the transaction exceeds 10,000,000 euros or the equivalent in lei, and whether there are at least two parties involved in the transaction operating in Romania with an individual turnover higher than 4,000,000 euros or the equivalent in lei.
Both Cosmote and Telemobil operate in Romania.
Cosmote is a Greek-based telecommunication company, fully owned by Helennic Telecommunications Organization S.A (OTE). Cosmote holds in Romania, together with Romtelecom S.A the telecommunication service provider S.C Cosmote Romanian Mobile Telecommunications S.A.
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