Greece: Deutsche Telekom to invest 1.2 bln in the next 4 years

The group eyes the remaining 10% stake Athens holds in OTE

31 January, 10:54

    Greece: Deutsche Telekom to invest 1.2 bln in the next 4 years Greece: Deutsche Telekom to invest 1.2 bln in the next 4 years

    (ANSAmed) – ATHENS - Deutsche Telekom is expressing renewed interest in acquiring the 10% stake in the Hellenic Telecommunications Organization (OTE) that belongs to the Greek state, as daily Kathimerini reports. On Thursday Timotheus Hoettges, the new head of the German telecom giant, which currently holds 40% of the Greek telecommunications provider, met with Prime Minister Antonis Samaras and the management of OTE and reportedly told them that a new acquisition would be beneficial to DT. Hoettges informed Samaras about the German group’s strategy on telecom growth internationally, as well as plans for the development of the OTE group in Greece with the realization of investments totaling 1.2 billion euros in the next four years. “For us, OTE constitutes an investment of strategic significance with long-term prospects,” the head of the German company said as he left the prime minister’s office. He added that OTE “has achieved its operation transformation into a high-performance company with healthy financial figures and low borrowing.” Samaras lauded DT’s investment in Greece, branding it the “tangible confidence” of a major international group in the Greek economy. (ANSAmed).

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