Bloomberg News

Greece’s OTE Sees EU1 Billion From Units’ Sale, Euro2day Reports

September 07, 2012

Hellenic Telecommunications Organization SA (HTO), known as OTE, expects to raise around 1 billion euros ($1.26 billion) in the coming months from the sale of two units, Euro2day said, without citing anyone.

OTE is anticipating its Globul mobile unit in Bulgaria to sell for around 800 million euros and that of Hellas Sat SA for around 150 million euros, helping to provide much of the liquidity needed to refinance debt in the coming years, the Athens-based financial website reported today.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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