Deutsche Telekom has purchased additional shares of OTE, Greece's biggest telecommunications operator, increasing its total shareholding to 45 percent for 284 million euros.
The transaction is in line with Deutsche Telekom Group strategy to become leading European telco.
Deutsche Telekom has acquired additional 24.5 million common registered shares of OTE, corresponding to 5 percent of OTE’s share capital, hence raising its total stake to 45 percent.
OTE contributes significantly to Deutsche Telekom’s Europe segment, as it further drives customer growth in broadband, mobile communications and TV. At the end of 2017, the company served 1.8 million broadband customers, almost 8 million mobile customers and 525,000 TV customers in Greece.
Srini Gopalan, Deutsche Telekom Member for Europe
This move underscores our long-term commitment to Greece. OTE is a strong cornerstone of our strategic ambition to become the leading European telco. Growth can be achieved primarily through convergence and digitization and OTE is an essential part of our coordinated strategic efforts to make this happen.
