ECONOMY

EETT has granted a conditional approval…

Greece’s telecoms regulator EETT has granted a conditional approval to mobile operator Cosmote’s acquisition of phone accessory retailers Germanos and Mobilbeep. Cosmote agreed to buy 42 percent in phone accessory retailer Germanos in May of this year for 651 million euros. Citing its mandate to safeguard competition in the sector, EETT said its green light for the the acquisition came with a set of conditions. Both Germanos and Mobilbeep must avoid preferential treatment of OTE telecom products and services at the expense of competitors. Cosmote is a subsidiary of OTE. EETT said both firms must provide consumers with equal access to telecoms products and services offered by rival companies. Germanos will also have to keep its brand name throughout its store network for as long as it has valid contracts with rivals of OTE. (Reuters)