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OTE

Deutsche Telekom, OTE to Invest Over 3 Billion Euros in Greece

Deutsche Telekom and the Hellenic Telecommunications Organization (OTE) announced on Wednesday their intention to invest more than 3 billion euros ($3.4 billion) in Greece from 2022 to 2027. The decision, which is one of the largest investments ever made by...

Greece’s OTE Sells Stake in Telekom Romania

Greece's Hellenic Telecommunications Organization (OTE) announced on Thursday it sold its 54 percent stake in Telekom Romania Communications to Orange Romania. It announced that the final equity consideration reached €295.6 million ($341 million). OTE says that it anticipates distributing to shareholders...

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...

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...

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...

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...

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...

Greek Justice Minister Urges to Start Postponed Siemens Cash-for-contracts Trial, While Top Judge Orders Investigation of Delay

According to a press release, Greek Justice Minister Nikos Paraskevopoulos is urging the courts to push ahead with the trial of Siemens cash-for-contracts trial case which has been indefinitely postponed. Paraskevopoulos is expected to meet with Supreme Court prosecutor Xeni...

Judge's Death May Result in 2nd 'Indefinite Adjournment' of Siemens Bribery Case

The trial of Greek former transport minister Tassos Mantelis, who has been indicted for allegedly accepting bribes from Siemens slush funds, may well become another Siemens-related case that is quietly dropped -- or in this case "indefinitely adjourned" --...

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...