Orascom confirms Weather's interest in OTE

21 Nov 2006

Orascom Telecom’s CFO Aldo Mareuse yesterday confirmed that the Egyptian investment vehicle Weather Investments is interested in acquiring a stake in Greek fixed line incumbent OTE. However, he rejected the scenario of OTE merging with the Egypt-based group’s majority owned Italian subsidiary Wind. The Greek government is planning to sell a portion of its 38.7% stake in OTE by June next year. Also this week, Spain’s Telefónica confirmed that it would not be pursuing a bid for OTE.

Greece, Cosmote, Global Telecom Holding (GTH, formerly OTH)