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Greek OTE sells Cypriot assets February 28, 2008

Posted by grhomeboy in Business & Economy, Telecoms.
Tags: , , ,

Cyprus Trading Corporation (CTC) said it had signed an agreement to buy stakes in Greek telecom group OTE’s subsidiaries OTEnet (Cyprus) and OTEnet Telecommunications. CTC will pay 3.99 million euros, the company said in an announcement.

After the transaction, which is subject to approval by Cyprus’s competition commission, CTC will raise its stake from 20 percent to 100 percent in OTEnet (Cyprus) and will control 87.25 percent of OTEnet Telecommunications.

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