Greek Parliament approves transfer of state’s 5% in OTE to privatisation agency

Greek Parliament approved an amendment which transfers five percent of the State’s share in telecom company OTE to the country’s privatization agency, a prior action required for the disbursement of the final sub-tranche of Greece’s loan.

The amendment was included in a draft bill on the Greek Institution of Research and Innovation. The Greek state will retain a remaining one percent stake. OTE is 40 percent owned and managed by Deutsche Telekom.