By T. Igoumenidi
[email protected]
No interest was reportedly expressed by Thursday’s deadline for a 5-percent stake in the Hellenic Telecommunications Organization (OTE) held by Greece’s privatization fund – the last remain portion owned by the Greek state in the one-time telephony monopoly.
As such, the privatization agency (HRADF) is obliged to offer Deutsche Telekom (DT), which owns a majority of shares in OTE and holds its management, the option of buying the stake in a previously agreed to formula (average over the past 20 days from the date when the request was submitted) based on the company’s share price at the Athens Stock Exchange (ASE).
DT has 60 days with which to respond.
