Greek State’s privatization plan aims to preserve its rights in OTE

The government has decided on a formula for the further privatization of OTE in a way that will preserve the state’s rights; in more detail, the Finance Ministry has opted to transfer its 5% stake in OTE to the state privatization fund TAIPED.

According to Kathimerini.gr, this way the government will meet the demands of the country’s creditors without compromising the state’s shareholding rights, as the State will still have full voting rights for the shares that go to IKA, while with 5% ownership the Greek State can retain the rights provided by the agreement with the main shareholder Deutsche Telekom.