German telecom group Deutsche Telekom finalized on May 30 the acquisition of GTS Central Europe, with operations in Romania as well.
This marks the first step in bringing the two organizations together. Danny Bottoms, GTS CEO prior to the takeover, will continue leading company in the future.
The full operational integration is expected to be completed in October 2014 while legal unity is planned for January 1, 2015, writes broadbandtvnews.com
Deutsche Telekom received on April 15 the required merger control clearance from the European Commission for the acquisition of GTS Central Europe, the company announced in a press release.
“With the acquisition complete, we look forward to integrating GTS’ business-to-business expertise with our industry-leading technologies and vast European network to become the provider of choice for business customers,” said Claudia Nemat, board member Europe and technology at Deutsche Telekom, quoted by broadbandtvnews.com
Deutsche Telekom group has over 142 million mobile customers, 31 million fixed-network lines and more than 17 million broadband lines (as of December 31, 2013).
Deutsche Telekom is present in around 50 countries and has approximately 229,000 employees worldwide.
In Romania, Deutsche Telekom has control over Romtelecom, Cosmote and Germanos, which are owned by the Greek group OTE, where Deutsche Telekom controls 40 percent of the share package.
GTS has operations in the Czech Republic, Hungary, Poland, Romania and Slovakia. In Romania, GTS Telecom, part of GTS Central Europe, announced revenues of EUR 20 million in 2012.