Greece will sell 10 percent of its remaining share in OTE by activating an option with Deutsche Telekom, a finance ministry source told AFP. Finance Minister George Papaconstantinou earlier held a meeting on the issue with officials from the German company, which already controls some 30 percent of the Greek operator. The semi-state Athens News Agency reported that DT is obliged to buy a 10 percent stake in OTE at a pre-agreed price under an agreement in 2008. The Greek state currently has a 16 percent stake in OTE. The price will be 15 percent higher than the average share price of the last 20 sessions on the Athens stock exchange, ANA said. Deutsche Telekom CEO Rene Obermann said that if the Greek government exercises the option, the German operator will meet the terms of the contract. He was speaking at a press conference in Cologne, reported Handelsblatt.
