OTE intends to create at least three new subsidiaries

OTE intends to create at least three new subsidiaries

The management of Deutsche Telekom-owned OTE is considering the creation of subsidiaries that will undertake specific work and lead to an increase in the group’s value.

Although the details are not clear yet, the telecommunication giant’s intention is to establish at least three subsidiaries to provide specific services, both to OTE’s existing clients and third parties. It is also aiming to transfer large categories of employees from the parent company to other OTE subsidiaries.

The first couple of subsidiaries planned will host OTE’s technical staff, numbering some 2,500 people. The first will include employees involved in maintaining and supporting OTE’s network infrastructures and the second will incorporate the workers who provide support at the household and corporation level.

A third subsidiary planned will be the legal entity, which will host workers in the Sales Support Department; this comprises about 300 employees who see to the implementation of sales arranged by OTE stores or call centers.

Separately, OTE intends to move the 1,100 employees in its 180 stores either to a new subsidiary or to Germanos, also an OTE subsidiary.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.