
Link to the source of the article… By Maria Moschou
In the call for expression of interest for the prevention of a financial advisor of TAIPED with the object of its sale 5% of the share capital of OTE, the Privatization Fund proceeded yesterday. It should be noted that on Thursday at noon, the capitalization of OTE on the Athens Stock Exchange is formed at the levels 4,352 di. (100%) i.e. the 5% valued at 217,6 million. euro. It is noted that Deutsche Telecom, today's owner 40% of OTE, owns (based on the Shareholders Agreement) right of first preference for the 5% which is granted and has manifested the, under conditions, its interest in further increasing its percentage in the Greek Organization. As the Germans have made clear, this will happen, only if the transaction makes financial sense and enhances the value of the group. It was preceded last Friday by the decision of the TAIPED board of directors to proceed with the call for expressions of interest to hire consultants for a series of assets including OTE. It is recalled that in implementation of the decision of the Interministerial Committee on Restructuring and Privatizations with number 260/18.11.2016 (Official Gazette 3723/B'/18.11.2016), the Greek government transferred to TAIPED 24.507.520 OTE shares, corresponding to 5% of its share capital, in the context of the further privatization of the company. Once the transaction is completed and the percentage of the Greek government in OTE will decrease to 5% (today directly owns it 1% and exercises voting rights for 4% owned by the IKA – ETAM), there will be changes to its shareholders agreement 2008. The rest 50% of shares is in the hands of institutional and private investors. Continued at the source of the Article…