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. |