Deutsche Telekom is still interested in raising its stake in Hellenic Telecoms (OTE), a Greek Finance Ministry official said on Tuesday, according to Reuters.
Asked on Tuesday whether Deutsche Telekom was interested in raising its stake, the Finance Ministry official said: "They are always interested."
Under a 2008 deal, the Greek government has a put option until the end of the year to sell a 10% in the former monopoly to Deutsche Telekom, which already owns 30% of the company.
Deutsche Telekom said it was up to Greece to decide what to do with its stake. "It΄s up to Greece. It has the put option and the price is set. So far, we have not received anything," a spokesman told Reuters.
The government said on Friday it would reduce its 20% stake in OTE by the end of the year, as part of a €50b privatisation program to shrink public debt but it did not say how much of OTE it would sell or to whom.
A 10 percent stake in the former state monopoly is worth about €380m based on current market prices.
source: CAPITAL
