Deutsche Telekom is going to become a major shareholder of Greek OTE with an almost 20% stake that it is going to buy from Marfin Investment Group (MIG). The transfer will be at €26 per share with a total value of €2.5 billion.
ElectronRun run has already covered the situation with OTE prior to today’s news, here. MIG had been methodically buying OTE shares for some time with the ultimate aim of finally controlling the Greek state telecom company. This alarmed the Greek government as the later always sought strategic partners from within the EU. As an emergency measure, a stake limit of a little less than 20% was set (which is what Deutsche Telekom is now receiving) for any private investor of OTE. Read the rest of this entry »
