OTE investing USD1.6bn in four years

26 Sep 2013

Greece’s largest telecoms group OTE, 40% owned by Germany’s Deutsche Telekom, said yesterday that it has set a budget of EUR1.2 billion (USD1.62 billion) to upgrade its Greek fixed and mobile networks over the next four years. Reuters quotes CEO Michael Tsamaz, who said after a meeting with Greek prime minister Antonis Samaras that the lion’s share of the investment will go towards financing new generation networks in the fixed and mobile segments (the latter via OTE’s cellular division Cosmote), while OTE is also investing in pay-TV expansion.

Greece, Cosmote, Cosmote (old)