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Greek Tourism Shows Resilence

• Minister Is Optimistic

(GREEK NEWS AGENDA) Figures on arrivals at Greek airports during the first five months of the year show an annual drop by 8.8%, much less than had originally been anticipated, Tourism Minister Kostas Markopoulos said during a press conference on June 16. Despite the dire economic climate globally, Markoupolos appeared optimistic that the drop in tourism for 2009 will not reach double digits and stressed that domestic tourism will also reach high levels. Kathimerini daily (17.6.2009): Tourism will not fall by over 10pct this year, gov’t says. Greek National Tourism Organisation: www.visitgreece.gr

• New Planes Take Off

Marfin Investment Group (MIG) which recently bought Olympic Airlines (OA) announced yesterday (June 17) that its subsidiary Olympic Air bought eight Q400 aircrafts from Bombardier for € 161,5 million with an option to acquire another 8. Meanwhile Aegean Airlines has announced that it is beginning daily flights to Istanbul from September 9, expanding its international routes. Kathimerini daily: MIG buys planes for Olympic Air

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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