ECONOMY

In Brief

Sale of leasing arm lightens OTE debt burden OTE Telecom has announced that the completion of the sale of its leasing arm to Piraeus Leasing reduced the group’s consolidated debt by 5.5 percent or 147 million euros. The sale of OTE Leasing to Piraeus Leasing, part of the Piraeus Bank group, was formally completed on Tuesday, for 2.0 billion drachmas ($5.23 million) in cash and an additional amount which OTE used to buy 1.5 million Piraeus Bank shares in the market on December 5. OTE Leasing had an 11.2-percent market share in 1999 and was sold by OTE as part of restructuring plans. (Reuters) 2Ant1 wants Bulgarian license. Greece’s Antenna TV announced late on Tuesday that it would again bid to obtain a Bulgarian nationwide television license following a high court ruling which retracted a license it had won last year. When there is a new procedure, we will take part for sure, Antenna TV Board Chairman Minos Kyriakou said. The visit is expected to end this week, when the IMF team will take their findings back to Washington. Approval by the IMF headquarters is widely expected in Turkish financial markets.