ECONOMY

Greece sells stake in telecoms operator OTE to Deutsche Telekom

greece-sells-stake-in-telecoms-operator-ote-to-deutsche-telekom

Greece concluded on Wednesday the sale of a 5 percent stake in its biggest telecoms operator OTE to Germany’s Deutsche Telekom for 284 million euros, ($329.50 million) the privatizations agency said.

The sale was agreed under Greece’s third international bailout.

Deutsche previously held a 40 percent stake in OTE, a former national monopoly. Following the deal its holding in the firm will stand at 45 percent. [Reuters]