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DT pledges EUR 1.2 bln investment in OTE
2014-02-02 21:11:00| Telecompaper Headlines
(Telecompaper) The new CEO of Deutsche Telekom, Tim Hoettge, and Claudia Nemat, DT's board member responsible for Europe, met with the CEO of Greek operator OTE Michael Tsamaz and the Greek Prime minister Antonis Samaras to discuss the group's investment and strategic plans in Greece. DT said it plans to invest EUR 1.2 billion in OTE group in the coming four years. Hoettges noted that DT is confident in the prospects for OTE group and the country. OTE is a strategic investment for DT with a long-term horizon, he said. Separately, the Greek paper eKathimerini reported, citing two people familiar with the matter, that the German operator made an offer to buy a 10 percent stake in OTE held by the Greek government. DT already holds 40 percent in OTE. It was not clear how much DT offered for the stake. OTE has a market capitalisation of around EUR 5.4 billion.
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Category:Telecommunications