DT agrees to increase stake in OTE to 45%

22 Mar 2018

Germany’s Deutsche Telekom (DT) has agreed to acquire an additional 5% stake in Greek telco OTE for EUR284 million (USD348.9 million). The Greek privatisation agency, the Hellenic Republic Asset Development Fund (HRADF, also known as TAIPED), had previously offered the stake via an open tender but attracted no bidders. Earlier this week it invited DT to exercise its right of first refusal to buy the shares, adding to its existing 40% holding in OTE. The OTE group is active in the Greek fixed and mobile markets under the name Cosmote and also has operations in Romania and Albania.

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