Greece moves a step closer to OTE stake sale

21 Nov 2016

The Greek government has transferred a 5% stake in national fixed and mobile operator OTE to the country’s privatisation agency TAIPED ahead of a planned sale. The state currently holds a 10% interest in the telco, but has said it will halve this as part of a wider raft of privatisations which were agreed under an international financial bailout. OTE’s 40% shareholder, Deutsche Telekom (DT) of Germany, has the right of first refusal on the shares. Reuters reports that there has been some opposition to the sale, however, with critics – including trade unions – saying that the government should not reduce its interest in a strategically important company.

Greece, Cosmote, Deutsche Telekom (DT)