Companies / Greece
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Greek Government Continues OTE Privatisation
June 2007 | Privatisation AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Under fire from local unions, the Greek government has reduced its stake in the national telecoms operator OTE to just 28%. This it has done following the sale of a 10.7% stake in the operator to institutional investors. Behind the EUR1.1bn sale, claims the government, is the need to restructure the operator and a need to pay off Greece's debt, estimated at just over 100% of GDP.