Telekom targets OTE acquisition

January 31, 2014 09.36 Europe/London By Chris Dziadul

ote_tv_logoDeutsche Telekom has renewed its interest in buying the 10% stake in the telco OTE currently held by the Greek state.

According to Ekathimerini, Telekomís new head Timotheus Hoettges has met with the Greek PM Antonis Samaras and management of OTE to discuss a possible acquisition.

He also told the PM of Telekomís international growth strategy, as well as plans to develop OTE, that will see an investment of Ä1.2 billion over the next four years.

Telekom currently holds a 40% stake in OTE, which beyond Greece also has a presence in Romania through Romtelecom and Cosmote Romania and Albania through AMC.