Greek press: OTE could sell one of its divisions in Romania, Bulgaria or Albania

Newsroom 17/04/2012 | 12:35

The Greek group OTE could decide to sell one of its divisions in Albania, Bulgaria or Romania in order to obtain the necessary funds for the debt service, writes the Greek daily Naftemporiki.

The decision on how to increase liquidity and reduce operational expenses will be made by the end of the first half of the year, says the publication. OTE has a finance deficit between EUR 500-700 million.

In Romania, OTE has a business of over EUR 1 billion a year, via the companies it runs- Romtelecom, Cosmote, Telemobil (Zapp), taken over by Cosmote and the GSM retailer Germanos. A main shareholder in Romtelecom with a 54.01 percent stake, OTE did not wish to take over the remaining share package owned by the state (45.99 percent) because of the difficult context in Greece. A decision will be made on a possible merger between Romtelecom and Cosmote or listing the company on the stock exchange.

The largest shareholder in OTE is the German group Deutsche Telekom which owns 40 percent of the shares.

Otilia Haraga


BR Magazine | Latest Issue

Download PDF: Business Review Magazine April 2024 Issue

The April 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Caring for People and for the Planet”. To download the magazine in
Newsroom | 12/04/2024 | 17:28
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue