Greece offers DT 5% stake in OTE

19 Mar 2018

The Greek government failed to receive any bids for a 5% stake in the country’s dominant telco OTE Group and has now invited majority shareholder Deutsche Telekom (DT) to exercise its right of first refusal to acquire the stake. DT currently owns a 40% interest in OTE, which operates in its domestic market under the Cosmote brand. The government, which owns 10% of OTE via the Hellenic Republic Asset Development Fund (HRADF, also known as TAIPED), had hoped to raise EUR250 million (USD307 million) by halving its stake in the telco. DT now has 30 days to decide whether or not to increase its interest in OTE.

Greece, Cosmote, Deutsche Telekom (DT), OTE Group