Deutsche Telekom invests a further EUR 284 million in Greece's OTE

Deutsche Telekom has purchased another 5 percent of Hellenic Telecom’s (OTE) shares for EUR 284 million. This brings DT's equity stake in OTE to 45 percent.

“This move underscores our long-term commitment to Greece. OTE is a strong cornerstone of our strategic ambition to become the leading European telco,” says Srini Gopalan, Deutsche Telekom Board Member for Europe, adding: “Growth can be achieved primarily through convergence and digitization and OTE is an essential part of our coordinated strategic efforts to make this happen.”

At the end of 2017, OTE served 1.8 million broadband customers, almost 8 million mobile customers and 525,000 TV customers in Greece.