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Greek telecom OTE sells Bulgarian unit to Telenor
April 26, 2013 / 4:50 PM / 4 years ago

Greek telecom OTE sells Bulgarian unit to Telenor

ATHENS, April 26 (Reuters) - Greek telecoms firm said on Friday it agreed to sell its Bulgarian unit Globul to Norway’s Telenor for a total 717 million euros ($934 million) to reduce its debt.

Globul is Bulgaria’s second-biggest mobile telephony operator. The purchase price will be adjusted depending on Globul’s net debt and changes in working capital on the day the transaction is completed, OTE said in a bourse filing.

$1 = 0.7676 euros Reporting by Harry Papachristou. Editing by Jane Merriman

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