Posted by: Costas Troulos | May 15, 2008

[News] DT – OTE have closed the deal

Since yesterday, the top story in all Greek news portals’ is the finalization of the DT-OTE deal.

Minister’s board concurred with the deal presented by the ministers of finance and telecommunications in yesterday’s meeting. The details are yet to be announced in the following days, however some info have already hit the headlines:

  • Greek Government and DT will hold 25%+1 shares and 5 seats in the Board of Directors
  • The Managing Director is proposed by DT and have to be approved by the Government
  • Government agreed to sell 3% of its shares for 29.75 euros per share (for a total sum of 442.3M euros)
  • Government retains the power to veto for issues of national security and public safety

You can find out more here or here. [UPDATE: And here‘s another one, in English]

Reactions are expected. Read more here.


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