OTE intends to create at least three new subsidiaries

The management of Deutsche Telekom-owned OTE is considering the creation of subsidiaries that will undertake specific work and lead to an increase in the group's value.

Although the details are not clear yet, the telecommunication giant's intention is to establish at least three subsidiaries to provide specific services, both to OTE's existing clients and third parties. It is also aiming to transfer large categories of employees from the parent company to other OTE subsidiaries.

The first couple of subsidiaries planned will host OTE's technical staff, numbering some 2,500 people. The first will include employees involved in maintaining and supporting OTE's network infrastructures and the second will incorporate the workers who provide support at the household and corporation level.

A third subsidiary planned will be the legal entity, which will host workers in...