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15 May 2012OTE

The Greek Telecommunications Organisation (OTE) is a telecommunication operator offering voice and data communications services in Greece. The operator provides both residential and business customers with Internet speeds of up to 24 Mbps and offers a wide range of converged services which combine Internet, television, fixed and mobile telephony.

The Greek government announced the sale of a 10 per cent stake in OTE to Deutsche Telekom in June 2011. Following the completion of the deal, Greece will hold a 10 per cent stake plus one vote while Deutsche Telekom will own 40 per cent plus one vote in OTE.

In October 2010, OTE started deployment of its Next Generation Access Network enabling broadband speeds of up to 50 Mbps. However, in Q111 OTE announced it would halt the development plans due to exhaustive regulation. In Q411, the Greek telecommunications regulator allowed OTE to relaunch its 50 Mbps broadband service based on VDSL technology provided the company grants network access to rival ISPs.

In 2012, due to the recession, OTE faces severe financial problems. In Q112, the company sold its remaining shares in Telekom Srbija and Hellas Sat, its satellite division. In Q212, company announced it considers selling one of its subsidiaries in Albania, Bulgaria or Romania.

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Taken from: Operator Profiles: Greece
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