ECONOMY

OTE sticks to its investment plan

ote-sticks-to-its-investment-plan

OTE telecom chairman and chief executive officer Michael Tsamaz stated at Morgan Stanley’s European Tech, Media and Telecom (TMT) Conference in Barcelona on Tuesday that his group will maintain its target of 500 million euros in free cash flows for 2015, expecting the Greek government to proceed with the necessary reforms that will have a positive impact on the telecommunications market.

Tsamaz added that OTE’s investments of half a billion euros this year, excluding costs for new spectrum, is mainly destined for the expansion of New Generation Networks (VDSL, 4G, 4G+).

OTE’s investment plan for Greece, amounting to 1.3 billion euros for the current four-year period, also includes the establishment of an All-IP network pertaining to the entire range of the group’s infrastructure and services, as well as the further enrichment of OTE TV’s offering.