OTE rumoured to be looking at Balkan sell-offs

16 Apr 2012

According to a report from Bloomberg, quoting the Naftemporiki newspaper, Greek telecoms group Hellenic Telecommunications Organisation (OTE) is considering selling one of its subsidiaries in Albania, Bulgaria or Romania to fund debt payments. Naftemporiki’s unsourced report added that OTE will make decisions on how to increase liquidity and cut operating costs by the end of the first half of June this year. The company, which includes the Cosmote mobile group, is facing a funding shortfall of EUR500 million to EUR700 million (USD656 million to USD919 million).

Greece, Cosmote