March 23, 2008 / 7:16 PM / 11 years ago

Greece willing to share management of OTE with DT

ATHENS, March 23 (Reuters) - Greece is willing to share management of the country’s largest telco group OTE (OTEr.AT) with Germany’s Deutsche Telekom (DT) but has not settled on the form it may take, the Greek finance minister said on Sunday.

Deutsche Telekom (DTEGn.DE) last week agreed to buy a 20 percent stake of OTE from Greek buyout firm MIG (MRFr.AT) and has entered talks to buy a further stake from the government, which owns about 28 percent.

“We are seeking a form of shared management in which the government and Deutsche Telekom will have a role,” George Alogoskoufis said in an interview in Greek newspaper Eleftherotypia.

Greece has long sought a strategic investor for OTE, even sounding out Deutsche Telekom in the past, but had no luck as it did not want to cede management control.

The government has said it is willing to sell up to 8 percent of OTE, while Greek media have reported that the state is willing to share the positions of chairman and chief executive of the company. (Reporting by George Hatzidakis, editing by Richard Chang)

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