DT said to be in talks about OTE stake

18 Dec 2007

According to ‘reliable sources’ cited by local news service reporter.gr, Greece’s Ministry of Finance is in negotiations with German giant Deutsche Telecom (DT) about taking a strategic stake in Greek incumbent OTE. The government’s attempts to attract a major European telco to invest in OTE failed earlier this year, and the state settled for a placement of a 10.7% stake in the former monopoly on the domestic stock exchange in June, lowering its holding to 28%. According to the same sources, Ministry officials have expressed fears that the recently announced 20% individual private ownership limit for ‘strategic’ public-run companies such as OTE might contradict EU competition laws. The amendment was widely thought to be aimed at stopping domestic investment group MIG from increasing its stake in OTE any further.

Greece, Cosmote, Deutsche Telekom (DT)