OTEnet Cyprus under full Cypriot ownership

Cyprus Trading Corporation (CTC) has repurchased shares in two Cyprus-based subsidiaries of Greek telecoms group OTE, OTEnet (Cyprus) and Otenet Telecommunications, for a total of EUR4 million (USD6 million). Following the transaction CTC will own 100% of OTEnet and 87.25% of Otenet Telecommunications. OTENET provides ISP and data services.