Greek Government Met Deutsche Telekom Over OTE Stake Sale
ATHENS -(Dow Jones)- Greek Finance Minister George Alogoskoufis and Transport Minister Costis Hadzidakis met with Deutsche Telekom Deputy Chief Executive Karl-Gerhard Eick to discuss its purchase of a stake in Hellenic Telecommunications Organization (OTE) from Marfin Investment Group, the Finance Ministry said Thursday.
"In the meeting, the agreement of Deutsche Telekom with Marfin Investment Group for the purchase of about 20% of OTE...was discussed," the ministry said in a statement.
The statement followed press reports Wednesday suggesting the Greek government is ready to cut its own stake in dominant phone company OTE to 20% as part of the deal with Deutsche Telekom. The Greek government controls 28.03% of OTE.
The press reports said that the government aimed to raise EUR1 billion from the sale of 8% of its stake in OTE, and that the parties could reach a deal by as early as the beginning of May.
Deutsche Telecom said Monday it was buying 20% of OTE for about EUR2.5 billion from Greek private equity company Marfin Investment.
-By Ayse Ferliel, Dow Jones Newswires; +30 210 331 2881; ayse.ferliel@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 20th March 2008
