EBRD completes exit from Romania’s Digi Communications

• EBRD exits telecoms group Digi Communications, selling its remaining 1.21 per cent stake
• Transaction marks the completion of the EBRD’s role as a long-term equity investor
• Sale executed through an accelerated bookbuild placement on the BSE

The European Bank for Reconstruction and Development (EBRD) has exited its investment from Romanian telecommunications group Digi Communications (Digi).

The Bank sold its remaining 3.525 million shares in Digi in an accelerated bookbuild placement on the Bucharest Stock Exchange. The shares sold on 03 September 2026 represent 3.31 per cent of the class B shares and 1.21 per cent of the company’s total share capital. The transaction completes the EBRD’s divestment from Digi, following partial sales carried out in 2024, 2025 and 2026.

The EBRD acquired a 3.25 per cent stake in Digi in 2017, when the Bank participated in the company’s initial public offering (IPO) on the Bucharest Stock Exchange. It supported one of Romania’s largest private-sector IPOs, helping Digi transition into a listed company. The Bank’s investment enhanced stock liquidity and supported the market capitalisation of the Bucharest Stock Exchange, contributing to its broader development. This enabled the stock exchange to be promoted to FTSE Secondary Emerging Market status in 2020.

Over the course of EBRD’s holding period, Digi consolidated its position in Romania, and reached its target of a 25 per cent free float on the BSE.

The group has also expanded its international footprint with operations in Spain, Italy, Portugal and Belgium. It has recently successfully completed the IPO of its subsidiary Digi Spain, with strong demand from international and domestic institutional investors.

Digi is a provider of telecommunications services in Romania, Spain, Italy, Portugal and Belgium. Its services include pay-TV, fixed and mobile internet and data, fixed-line and mobile telephony, and fibre connectivity.

The EBRD is a leading institutional investor in Romania. Since the start of its operations there in 1991, the Bank has invested more than €12.7 billion in over 601 projects in the country, with the majority of investment in the private sector.