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Latest Satellite News Discussion, Update Telekom raises OTE interest at General Satellite News forum; Telekom raises OTE interest By Chris Dziadul The Greek government has decided to sell as further 5% stake in OTE ...

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Thumbs up Update Telekom raises OTE interest - 21-June-2009, 14:20

Telekom raises OTE interest

By Chris Dziadul

The Greek government has decided to sell as further 5% stake in OTE to Deutsche Telekom.

According to Greek news sources, the move is in accordance with a deal struck last year obliging Deutsche Telekom to buy a further 5% in OTE at 27.5 a share proving the Greek state remains in control of the telco.

As a result of the deal, the state will collect 674 million plus and benefit by over 385 million due to the current OTE share price.

The sale, which raises Deutsche Telekoms interest in OTE to 30% plus one share, is being strongly opposed by the Federation of OTE employees and PASOK political party.

Separately, it has been confirmed that OTE will participate in 2.1 million FTTH network project.


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