Cosmofon

The OTE Group on Thursday announced a new annual voluntary exit program. In a bid to reduce staff numbers, the program will be targeted toward about 1,400 employees of OTE, Cosmote and Germanos in Greece.

Deutsche Telekom-owned OTE on Wednesday announced the sale of its entire stake in Albanian subsidiary Telekom Albania to Bulgarian company Albania Telekom Invest AD for the amount of 50 million euros.

Deutsche Telekom has exercised its right of first refusal and will pay 284.05 million euros ($348.87 million) to acquire a 5 percent stake in Greece's biggest telecom operator OTE, the Greek privatization agency (HRADF) said on Wednesday.

Greece is seeking a financial adviser for the sale of a 5 percent stake in its biggest telecoms operator OTE, its privatization agency (TAIPED) said on Thursday.

The sale is a condition of Greece's international bailout.

OTE, a former national monopoly, is now 40 percent owned and managed by Germany's Deutsche Telekom.

[Reuters]

Greek telecoms company OTE said on Tuesday it had submitted a non-binding offer of 250 million to 300 million euros to acquire rival Forthnet's pay TV operations.