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Deutsche Telekom Buys 20 per cent in Bulgarian Globul Owner OTE
Deutsche Telekom AG, Europes biggest telephone company, agreed to buy 20 per cent stake in Hellenic Telecommunications Organization SA (OTE), which owns the second-biggest Bulgarian mobile operator Globul. The price of the deal is EUR 2.5 B and aims to increase the stake in the Greek company, Bloomberg agency reported, citing a statement of the Bonn-based company. Deutsche Telekom will pay EUR 26 a share to buy the stake from Marfin Investment Group SA, which is 36 per cent more than Athens-based Hellenic Telecoms closing price of EUR 19.14 on March 14. The deal is conditional on Greek government approval to raise the stake and getting management control.
For more information: http://www.novinite.com/view_news.php?id=91414
 
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Update: 10 Sep 2010