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Deutsche Telekom Back acquired 20% of Hellenic Telecommunications Organisation (OTE) shares

(GREEK NEWS AGENDA)    On March 17, Deutsche Telekom – Europe’s biggest telephone company – acquired 20% of Hellenic Telecommunications Organisation (OTE) shares from Marfin Investment Group (MIG) for €2.5 billion. The acquisition rendered the German giant the biggest stakeholder in the Hellenic Telecommunications Organisation, after the Greek state, with 28%. Four days later, Minister of Finance Alogoskoufis announced the government’s intention to sell up to 8% of the Greek state’s 28% share to the German buyer in the context of its decision to secure the German provider as a strategic partner. Greece has long sought a strategic investor for OTE, in order to secure a form of shared management without ceding management control, but has not yet settled on the form it may take. Reuters.com: Greece willing to share management of OTE with DT; Secretariat General of Information: About Brand Greece-Telecommunications  

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