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CTC acquires OTEnet unit in Cyprus March 27, 2008

Posted by grhomeboy in Business & Economy, Telecoms.
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Importer and retailer Cyprus Trading Corporation (CTC) said yesterday that it owns fully Cyprus-based OTEnet Telecommunications after it bought a 12.75 percent stake from Brightmind Enterprises.

The agreed price for the transaction was 1 million euros, CTC said in a statement. In February, CTC acquired from Greece’s telecom OTE its shareholding in Cyprus’s OTEnet for 3.99 million euros, which gave it 87.25 percent ownership of OTEnet Telecommunications.

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