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GreekReporter.comGreek NewsEconomyHellenic Telecomms Organization S A Re Agreement

Hellenic Telecomms Organization S A Re Agreement

Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET: HLTOY) announces that today it signed a Share Purchase Agreement with PREDUZE E ZA TELEKOMUNIKACIJE “TELEKOM SRBIJA” AKCIONARSKO DRU TVO (“Telekom Srbija” or the “Company”) to sell its entire stake of 20% in Telekom Srbija to the Company, subject to fulfilment of agreed conditions precedent. The value of the transaction amounts to EUR380m.
In addition, OTE will receive a minimum dividend of EUR17 million for fiscal year 2011. The transaction is expected to be completed by the end of Q1 2012.
(source: ote.gr, WSJ)

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