OTE could be on Sistema list

Russian conglomerate Sistema may consider buying a stake in OTE telecom if the price and the terms are right, its president, Vladimir Evtushenkov, said after the group sealed a deal yesterday to buy a majority stake in Intracom Telecom. Evtushenkov was in Athens to rubber-stamp a deal which involved the purchase of a 51 percent take in Intracom Telecom, a subsidiary of Intracom Holdings, for 120 million euros by Sistema’s technology arm, Sitronics. The president of Sistema said that the group is eyeing other investments in Greece, including real estate and the country’s largest telecom company, OTE. «In the event that the Greek government proceeds with tender for the sale of a stake in OTE, we will take part if the terms and price are right,» he said. «We have set a goal to create a global telecoms company.» Sistema has subsidiaries in telecommunications, technology, insurance, banking, real estate, retail and media.

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.