Greek government to transfer 5% stake in OTE

23 May 2016

The Greek government is looking to transfer a 5% stake in the country’s incumbent fixed and mobile operator OTE to the state privatisation fund TAIPED and the Social Security Foundation (IKA). Ekathimerini reports that the deal will enable the government to retain its voting rights while also satisfying the demands of creditors who are looking for the state to relinquish its direct interest in the telco. OTE is 40%-owned by Deutsche Telekom of Germany.

Greece, Cosmote