The government is speeding up procedures to implement an eagerly awaited privatisation programme. Finance Minister George Papaconstantinou, in a letter sent to Deutsche Telekom’s management, launched procedures to sell an additional stake of Hellenic Telecommunications Organization to the German operator on Thursday.
Under the existing agreement, the Greek government has the right to ask the German group to proceed with the purchase of an additional 10% stake in OTE. Deutsche Telekom currently owns a 30% equity stake in OTE, with the Greek government owning a 16%, while another 4.0% is owned by Greek pension funds.
(source: ana-mpa)
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