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
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- DT recently announced several IPTV moves while at CeBIT