OTE’s Cosmote stake reaches 87.96%

28 Nov 2007

Greek incumbent telco OTE has announced that it has acquired further shares in its mobile unit Cosmote on the Athens stock market to raise its stake to 87.96%. OTE held 67.83% of Cosmote before launching the voluntary tender offer earlier this month. Once it holds 90% or more, OTE will exercise a ‘squeeze out right’ and will continue to buy Cosmote shares through the market for three months, ahead of an EGM seeking approval for the stock’s delisting.

Greece, Cosmote, Cosmote (old)