Marfin holds 5.3% of OTE

17 Aug 2007

Greek firm Marfin Investment Group (MIG) has bought a 5% stake in Greece’s former fixed line monopoly OTE to up its shareholding to 5.3%, the company reported in a statement to the Athens stock exchange. The stake, worth around EUR600 million, was acquired on the stock market and from institutional investors, an MIG official said. MIG, which was previously spun off from Marfin Popular Bank, raised EUR5.2 billion through an oversubscribed rights issue last month, has said it plans to start investing the funds in various sectors, and has also indicated an interest in buying stakes in alternative telcos in Greece.

Greece, Cosmote