Unconfirmed: Telekom Austria targets OTE stake

26 Oct 2006

Telekom Austria is interested in bidding for the stake in Greek telecoms group OTE due to be sold by the Greek government early next year, writes Reporter.gr quoting sources close to the matter. The government currently holds a 38.7% stake in OTE, with the remainder distributed between international institutional shareholders (40%), local institutional shareholders (12.1%) and others (9.2%). Although the size of the stake for sale has not yet been fixed, the state is thought unlikely to reduce its holding below 10%. Private equity house Apax Partners has recently expressed an interest in acquiring a slice of OTE, joining other international investors including Egypt’s Orascom Telecom. Previously, Deutsche Telekom, France Télécom and Telefónica have also shown interest in buying into the Greek incumbent.

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