Privatization fund set to sell 5% stake in telecoms provider OTE

7 April 2017
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Greece’s privatization fund announced that it was in the process of selecting a consultant for the sale of 5 percent of the telecoms provider OTE’s shares, a stake it currently holds in its portfolio.

A relevant invitation of interest has already been published.

The fund, officially known as the Hellenic Republic Asset Development Fund (HRADF), is tasked with selling-off the stake, which is a memorandum-mandated provision.

OTE was once the wholly state-owned and managed telephony monopoly in the country. Deutsche Telekom currently owns 40 percent of OTE’s shares and controls the management.

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