Hungarian businessman to own one of Romania’s largest telecoms companies

On Monday, Romanian Hungarian businessman Zoltán Teszári’s company will buy Telekom Romania, Digi Romania said.

According to the information published on the Bucharest Stock Exchange (BVB), an agreement in principle has been reached to transfer 99.9999994 percent of Telekom Romania Mobile Communications SA shares to West Network Invest SRL.

West Network Invest is an investment company, mainly owned by Digi Romania.

The founder and majority owner of Digi Romania is Zoltán Teszári from Oradea (Nagyvárad). Digi is the largest telecommunications company in Romania, providing telephone and internet services and operating several television and radio channels. It also has interests in Spain, Italy, Portugal, and Belgium.

According to Maszol.ro, although Teszári was ousted from the Top 10 of Forbes’ ranking of Romania’s richest in 2023, the businessman is the owner of a considerable fortune, recently estimated by Capital at €750-800 million and by Forbes at €380 million.

Economedia. ro reported that Telekom Romania will maintain its image after the change of ownership and continue to operate as an independent company on the market, provided the transaction is approved by the Competition Authority.

Telekom Romania

Telekom Romania Mobile Communications is majority-owned by the Greek Hellenic Telecommunications Organization. The company is the fourth largest player in the Romanian telecoms market, with around 4 million customers. In 2022, Telekom Romania closed the year with a loss of RON 558 million (€112 million) on revenues of RON 1.378 billion (€280 million).

As we wrote a few months ago, the Hungarian state parts with stakes in telco Yettel, details HERE.

As we wrote earlier, Antenna Hungaria, a unit of listed IT company 4iG, and state-owned Corvinus International Investment have closed the acquisition of Vodafone Hungary, details HERE.