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General

Greece sells 10% of OTE to Deutsche Telekom for EUR 390 mln

Friday 1 July 2011 | 13:47 CET | News
Greece's finance minister Evangelos Venizelos announced that the Greek government will sell its 10 percent stake in OTE to Deutsche Telekom for EUR 390 million. The government will sell 49 million shares for EUR 8 each. Deutsche Telekom bought 25 percent of OTE at EUR 27.5 per share in 2008. On 11 July, the revenue will go into the national real estate fund set up by the Greek government to accelerate the implementation of an ambitious EUR 50 billion privatization plan for the next five years. The government and state pension funds continue to control a 6 percent stake in OTE.

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Categories: General
Companies: Deutsche Telekom / OTE
Countries: Greece
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