Greece selects advisors for OTE sale

14 Nov 2006

The Greek Finance Ministry has named three banks – two foreign and one Greek – to advise it on the planned privatisation of incumbent telco Hellenic Telecommunications Organisation (OTE). A ministry official said the three advisors are Credit Suisse Group, UBS and EFG Eurobank Ergasias. The government is planning to sell a portion of its 38.7% stake in OTE as part of its EUR1.7 billion (USD2.18 billion) privatisation programme for 2007, and hopes to complete the sale by June.

Greece, Cosmote