May 30, 2018 / 11:36 AM / 25 days ago

Deutsche Telekom raises stake in Greece's OTE to 45 percent

FRANKFURT (Reuters) - Germany’s Deutsche Telekom (DTEGn.DE) said on Wednesday it had paid 284 million euros ($330 million) for a 5 percent stake in Greek telecoms operator OTE (OTEr.AT), raising its holding to 45 percent.

FILE PHOTO: A Deutsche Telekom logo is seen at the Mobile World Congress in Barcelona, Spain, February 26, 2018. REUTERS/Yves Herman

The transaction, announced earlier by the Greek privatisation agency, had been expected after a tender attracted no bids and Deutsche Telekom was invited to exercise its right of first refusal to buy the stake.

Reporting by Douglas Busvine; Editing by Ludwig Burger

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