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Deutsche Telekom AG Could Buy Bulgaria's Globul from Hellenic Telecommunications Organization SA-Dow Jones Global Equities News


Thursday, 9 Aug 2012 06:31am EDT 

Dow Jones Global Equities News reported that Deutsche Telekom AG could buy Bulgarian mobile operator Globul, which was put up for sale by its owner, Hellenic Telecommunications Organization SA, Deutsche Telekom AG Chief Financial Officer Mr. Timotheus Hoettges said. Deutsche Telekom AG holds a major stake in Hellenic Telecommunications Organization SA. The comments indicate that Deutsche Telekom AG is willing to help Hellenic Telecommunications Organization SA in its efforts to raise money. The possible sale of Globul, which had almost 4.4 million customers at the end of the second quarter of 2012, is part of a strategy for refinancing EUR 3.4 billion (USD 4.21 billion) of debt maturing over the next two years, Hellenic Telecommunications Organization SA's press office told the Capital financial weekly in June 2012. Deutsche Telekom AG initially bought a stake in Hellenic Telecommunications Organization SA in 2008 and owns 40% of it. Apart from Bulgaria and Greece, Hellenic Telecommunications Organization SA has assets in Romania and Albania. 

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10 Jul 2014