OTE incurs EUR3m anti-competition fine, buys 3m Cosmote shares

8 Oct 2007

Greek incumbent OTE has been issued with a EUR3 million (USD4.2 million) fine by the National Telecommunications & Post Commission (EETT) for delays in providing infrastructure to rival fixed line and broadband operators, following complaints from alternative telcos including Tellas. In other news, OTE has purchased three million shares in its wireless subsidiary Cosmote via the stock market in order to maintain its two-thirds voting rights in the cellco.