Deutsche Telekom buys 20% of Greek telco

Deutsche Telekom announced it will buy a 20% stake in Greece's Hellenic Telecommunications organization (also known as OTE) for about €2.5 billion, or just under $4 billion (those exchange rate discrepancies just keep getting bigger, don't they?). OTE is the former government-owned monopoly telco in Greece, though the stake DT is buying is currently owned by Greek investment group Marfin. DT also is said to want to negotiate with the government for a larger stake in OTE. The deal with OTE could offer the German telco giant a gateway into new mobile markets outside of Greece. OTE has a controlling stake in Romtelecom, the former monopoly wireline telco in Romania.

For more:
- read this story at The Wall Street Journal

Related articles:
- DT recently announced several IPTV moves while at CeBIT 

Suggested Articles

To better gauge which rural areas in the U.S. lack broadband services, FCC Chairman Ajit Pai is proposing a new mapping process.

VMware announced Thursday afternoon that it was buying application delivery controller startup Avi Networks, but it didn't disclose the financial terms.

Google continues to execute on its $13 billion U.S. investment plan by announcing on Thursday that it's expanding a data center in Oklahoma.