ECONOMY

OTE stake is no lure for Deutsche Telekom

Deutsche Telekom’s board member for finance, Tim Hoettges, said on Tuesday that the German company is currently not interested in the option to acquire the Greek state’s 10 percent stake in the Hellenic Telecommunications Organization (OTE), which DT holds a controlling stake in.

DT can exercise such a right according to the shareholders’ agreement dating from 2008.

“We have the agreement, that gives us the option some time in the future to acquire a stake from the Greek state. At the moment there is nothing new on that,» he said in response to a question by a reporter in Berlin.

By the end of the year, Hoettges, who is now DT’s second-in-command, is soon expected to take the company’s helm as the current chief executive officer is about to depart.