DT completes purchase of 5% stake in OTE Group

31 May 2018

The Greek government has concluded the sale of a 5% stake in OTE Group to Deutsche Telekom (DT) of Germany. The German telco paid EUR284 million (USD329.5 million) to increase its stake in OTE from 40% to 45%. OTE Group has fixed and mobile operations in Greece (Cosmote), Romania (Telekom Romania) and Albania (Telekom Albania). The Greek government agreed to offload half of its 10% stake in OTE to help satisfy the conditions of its economic bailouts.

Greece, Deutsche Telekom (DT), OTE Group