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Greece opened tender for 5% sale of telecom giant OTE

OTE privatization

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The Hellenic Privatization Fund (HRADF) announced an international tender for the sale of 24.5 million ordinary shares by telecom giant OTE, which represent 5% of the company’s capital. Athens expects bids from interested investors by March 15, 2018, it is clear from a news release on the Fund’s website.
The Telecommunications Company is included in the privatization list, requested by the creditors of Greece.
OTE Group is the largest telecommunication company in Greece and one of the leading companies in the Southeastern Europe region. The company’s shares are traded on the Athens Stock Exchange and the London Stock Exchange (LSE).
Telecom’s shareholders are Deutsche Telecom, which holds 40% of OTE’s capital, as well as the Greek state and HRADF, which hold a 5% stake. The remaining shares are in the hands of local and international institutions as well as private investors.
For sale was announced the stock of shares held by the privatization fund of Greece.
OTE offers a wide range of services – from fixed telephony, mobile and internet to pay-TV and ICT solutions. The company operates mainly on the Greek market but also offers services in Romania and Albania.