Calamos Supports Greece

Greece

OTE Telecom Reports 2.3% Drop in Third Quarter 2017 Profit

The country's biggest telecoms operator OTE posted a 2.3% drop in third-quarter core profit on Thursday, hit by what it described as challenging conditions in its international operations. The former national monopoly, now 40% owned and managed by Germany's Deutsche...

Telecoms Operator OTE Q2 Core Profit Rises

Greece's biggest telecoms operator OTE posted a 1% rise in second quarter core profit on Thursday, helped by an increase at its domestic mobile business for the first quarter in five years. OTE, the former national monopoly now 40%-owned and...

Greek Telecoms Provider (OTE) Sheds Another 350 Workers

The Hellenic Telecommunications Organization (OTE), Greece's telecoms provider, announced the implementation of a Voluntary Exit Scheme, primarily addressed to OTE employees near retirement as part of the company's efforts towards increasing competitiveness, rejuvenating its work force and creating new...

OTE Downsizing 13% in Fixed-Line Telecommunications

In an attempt to reduce its legacy costs OTE, the largest telecommunication company in Greece announced its intent to downsize its workforce in the fixed-line business. Chief Executive Michael Tsamaz said that 1,100 people, that is 13% of the fixed-line...

Remote Work in Greece Lags Behind Other EU Countries

A new report published by the Hellenic Federation of Enterprises (SEV) on Friday suggests that only five percent of Greece's workforce works from home as part of their regular employment. This figure puts Greece in eighteenth place among the twenty-eight member...

Deutsche Telekom Acquires Remaining 5 Percent Stake in Greece's OTE

The Hellenic Republic Asset Development Fund (HRADF) announced on Wednesday that Deutsche Telekom AG acquired the remaining five-percent stake in Greece’s biggest telecom operator, OTE. The German giant exercised its right of first refusal for the acquisition of 24,507,520 common...

Quad-Play Telecom Services are Beginning to Take Off in Greece

Quad-play telecommunication services are becoming increasingly popular in Greece. It is a marketing term combining the triple play service of broadband Internet access, television and telephone with wireless service provisions. These provisions are offering wireless access on the go to...

Free Internet for 14,500 Households on Remote Greek Islands

The permanent residents of 47 remote islands in Greece are to get free internet access based on a Joint Ministerial Decision signed on Thursday by Minister of Digital Policy, Telecommunications and Media; Nikos Pappas and Interior Minister Panos Skourletis. The measure...

Parliament Approves Transfer of 5% Stake in OTE to Privatization Agency

Parliament has approved an amendment which transfers five percent of the State’s share in telecom company OTE to the country’s privatization agency, a prior action required for the disbursement of the final sub-tranche of Greece’s loan. The amendment was included...

Marios Demetriades: Cyprus to Revise Existing Telecommunication Law

Cyprus may agree with the revision of existing telecommunications legislation in the EU, as long as new measures are targeted and fully justified, said Minister of Transport, Communications, and Works Marios Demetriades, during the EU Council for Telecommunications and...

Greece-Russia Agreement for Cooperation in Quantum and Nanotech Research

Greece's Alternate Minister for Research and Innovation Costas Fotakis and Russian Federation Deputy Minister for Education and Science Ludmila Ogorodova on Friday signed an agreement for cooperation between the two countries in specialist new technologies, such as quantum technology,...

OTE Announces Voluntary Retirement Scheme

Hellenic Telecommunications Organisation (OTE) announced a new voluntary retirement plan as an exit strategy for its employees. In an announcement, OTE said that “The plan is part of initiatives implemented to boost its competitiveness, renew its workforce and create employment opportunities for...

Greek Major Telecom Firm Signs Deal for More Jobs

OTE, the largest Greek telecommunications firm has signed a new three-year contract which will establish an improved payroll for its new employees, raising the introductory wage to 755 euros, much higher than the country’s average minimum wage. Under the...

Vodafone and Wind Bid for Telecommunication Company Forthnet

Greece's biggest subscription TV provider Forthnet announced on Thursday it had received a joint takeover bid from British Vodafone and its Greek business partner Wind.  Vodafone and Wind, which already own about 39% of Forthnet, have made a non-binding offer for the rest...

OTE Plans on Buying Nova Pay TV

The Hellenic Telecommunications Organization (OTE) has submitted a non-binding offer to Forthnet for the acquisition of Nova, its pay television program. The offer amounts to around 250-300 million euros and the financial advisor for OTE is Barclays Bank. The offer came...