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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Greece: The true experience

(GREEK NEWS AGENDA)  Greece’s participation in this year’s International Tourism Exhibition in Berlin (ITB) was awarded with the “2008 Best Exhibitor Award”  in the “Europe” category among a total of 11,000 single and group booths of the world’s biggest travel trade fair, on March 8th. The prize was awarded for the booth’s outstanding elegance, service rending and quality excellence. Greece’s pavilion was inaugurated by Tourism Minister Aris Spiliotopoulos and bore the title “Greece: The true experience.” ITB is a successful institution attracting more than 108,000 trade visitors and enjoying worldwide media recognition.

Invest in Greece: A Leading SE Country

(GREEK NEWS AGENDA)  Greece’s high growth rates along with its economic role and presence in the broader Southeastern Europe region are two of the country’s main comparative advantages that render it an attractive destination for foreign investment, Finance Minister George Alogoskoufis said yesterday. Addressing an event for the relaunching of the Hellenic Center for Investment (ELKE) as the Invest in Greece Agency (www.investingreece.gov.gr), the minister noted that Greece has consistently achieved annual growth rates of around 4% in recent years and is well placed to withstand the upheavals in the global economic system, having significantly reduced its fiscal deficits. He predicted that Southeastern Europe will constitute the economic “miracle” of the next 15 years, due to high growth rates and investment opportunities. Alogoskoufis said new incentives had helped Greece attract more than €8.5 billion in foreign investment in the last two years.

Greece: Ports’ Privatisation Moving Ahead

(GREEK NEWS AGENDA)  The discussion on the bill concerning the ratification of the assigning contract between the state and the Piraeus and Thessaloniki Port Organisations was completed at the Parliament Plenum on Wednesday with the ratification of its articles. Merchant Marine Minister George Voulgarakis referred to a real reform that modernises the country’s major ports, providing them at the same time with development prospects. The minister also stressed that the country’s sovereign rights are fully safeguarded, while the timely implementation of investments plans for both ports is also secured.

Report on Public Private Partnerships in Greece

(GREEK NEWS AGENDA)  PPP Bulletin is a UK monthly subscription-based magazine providing in-depth updates on PFI/PPP legislation, regulation, working procedure and market potential. Its February 2008 edition includes a Report on Public Private Partnerships in Greece, according to which “Greece’s PPP market is being touted as the next big thing, with plenty of projects and strong political support…”
Special Secretariat for Public Private Partnerships: www.sdit.mnec.gr; Secretariat General of Information, About Brand Greece: Public & Private Partnerships in Greece