ECONOMY

MIG has not changed its stance on OTE stake

Marfin Investment Group (MIG) said yesterday it hasn’t changed its strategy to maintain a stake in OTE telecom, Greece’s biggest phone company, after receiving offers to sell the holding. «Our public position, that our participation in OTE is strategic and that we seek a minority participation on OTE’s management board, hasn’t changed, at least for the moment,» Athens-based Marfin, Greece’s biggest buyout fund, said in a bourse filing. MIG said it has received offers from advisers of «strategic investors» to sell part or all of its OTE stake. Still, the company hasn’t so far made any decision to «change the character of its investment,» according to the filing. Greek website Axiaplus reported on Tuesday, without citing anyone, that Deutsche Telekom AG, Europe’s largest phone company, may acquire all or part of Marfin’s stake of about 20 percent in the Greek phone company. (Bloomberg)