News:Argos:Deutsche Telekom Buys Stake in OTE

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Deutsche Telekom AG said it is targeting management control in Hellenic Telecommunications Organization SA after buying a 20% stake in the Greek company for about €2.5 billion ($3.92 billion).


Deutsche Telekom said it doesn't intend to make a tender offer for all of OTE, as the Greek company is known. The deal calls for the German company to pay Greek private-equity company Marfin Investment Group Holdings SA -- which now controls the 20% stake -- €26 a share for 98.03 million shares in OTE. Deutsche Telekom also said it will begin talks with the ...


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