OTE Telecom to spend 3 bln euros in Greek ultrafast broadband by 2027

1 minute read
Register now for FREE unlimited access to Reuters.com

ATHENS, Dec 15 (Reuters) - Greece's OTE Telecom (OTEr.AT) will spend more than 3 billion euros ($3.38 billion) to help digital transformation in Greece in the 2022-2027 period, the Greek Prime Minister's office said on Wednesday.

OTE is 46% owned and managed by Deutsche Telecom (DTEGn.DE). The announcement was made by Deutsche Telecom and OTE officials who met Prime Minister Kyriakos Mitsotakis in Athens, his office said.

The operator said later that it will use the funds to expand ultrafast broadband by speeding up its optical fibre rollout to reach three million households and businesses by 2027.

This will increase its annual investments by about 100 million euros compared with previous years, OTE said.

($1 = 0.8870 euros)

Register now for FREE unlimited access to Reuters.com
Reporting by Angeliki Koutantou; Editing by Alex Richardson and Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.