Deutsche Telekom has agreed to acquire the stake for EUR284 million (US$349 million)

Date March 21, 2018

Type M&A Transactions

Subtype Transaction agreement announced

Subsectors Telecom

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Deutsche Telekom has agreed to acquire the stake for EUR284 million (US$349 million)

Related updates

▶No bids have been received for the sale. HRADF has invited Deutsche Telekom to exercise its right of first refusal to buy the shares. Under a shareholders’ agreement, Deutsche Telekom has 30 business days to decide if it will buy the stake at a price equal to the average share price of the last 20 trading sessions
▶The Hellenic Republic Asset Development Fund S.A (HRADF) has launched an international tender process for the sale. The deadline to submit offers is 15 March 2018. As manager, Deutsche Telekom, which has a right of first refusal to buy the shares but has not yet said if it will exercise that right. The stake sale is expected to raise EUR250 million
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▶Sale of 5% stake in Hellenic Telecommunications Organization (OTE)

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