Deutsche Telekom acquires remaining 5 pct stake in OTE

The Hellenic Republic Asset Development Fund (HRADF) announced on Wednesday that Deutsche Telekom AG acquired the remaining 5 pct stake in OTE as it exercised its right of first refusal for the acquisition of 24,507,520 common registered shares of OTE, following an agreement between the Greek state and Deutsche Telekom AG to which HRADF has acceded.

Deutsche Telekom served a relevant confirmation to HRADF on March 30, 2018.

Based on Tuesday’s closing share price in the Stock Exchange (11.24 euros), Deutsche Telekom gave a premium of more than 3 pct. The average price of the stock at the last 20 trading sessions was 11,5904 euros.