Greece prolongs search for OTE investor

8 Mar 2007

Greece’s Finance Ministry said yesterday that it has extended the deadline for finding a strategic investor for incumbent telco Hellenic Telecommunications Organisation (OTE) until the end of this month. Previously, the government had given its financial advisors UBS, Credit Suisse and EFG Eurobank Ergasias until the end of February to find a buyer for as much as 20% of the former monopoly, which is 38.7% state owned. Telekom Austria is the only potential suitor to have publicly expressed its interest in the stake, but Telefónica and Deutsche Telekom are also said to be keen.

Greece, Cosmote