Financial News: Greece to activate option to sell 10 pct of OTE to Deutsche Telekom

The Greek government will activate an option contained in an existing contract between the Greek state and Deutsche Telekom to sell an additional 10 pct equity stake in Hellenic Telecommunications Organization (OTE) to the German group, Finance Minister George Papaconstantinou told a Deutsche Telekom delegation during a meeting on Wednesday in Athens.
Under an agreement reached in 2008, the German telecoms group is obliged -if the Greek state requests it - to buy an additional 10 pct equity stake in OTE at a pre-agreed price.

This price will be 15 pct higher than the average share price of the last 20 session on the Athens Stock Exchange (ASE).

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