Deutsche Telekom

Telecommunications firm OTE appears to have undertaken an initiative that will serve to increase the penetration of fiber-optic internet connections to the home (FTTH), having submitted the relevant proposal for approval to the National Telecommunications & Posts Commission (EETT).

German telecommunications giant Deutsche Telekom has given a vote of confidence in the Greek economy and its prospects.

As pointed out by Dominique Leroy, the member of Telekom's Board of Directors responsible for Europe, during a meeting with Greek reporters at this year's MWC in Barcelona, Telekom continues to steadily invest in Greece and its prospects through OTE Group.

Hellenic Telecommunications Organization SA (OTE) CEO and Chairman of the Board Michael Tsamaz, its longest-serving director, will be leaving the company when his contract expires at the end of June 2024, the company announced on Thursday.

Türk Telekom is holding talks with a foreign company for an investment to develop new generation technologies, said Ümit Önal, its CEO.

This will mark a significant foreign direct investment and those tech products will be exported, Önal told a group of journalists without naming the potential foreign partner. But he said that the investment plans will be made public in two months.

Listed telecom OTE on Thursday announced an increase in profitability, FTTH subscribers, as well as TV and mobile contract customers, for the third quarter of 2023.

However, it announced a drop in group EBITDA due to weaker business in Romania.

OTE's consolidated revenues were down 2.6% in the third quarter of 2023 to 881 million euros.

Discussions between Deutsche Telekom and Greek technology company Desquared lasted more than a year, but now 20% of the latter has come under the control of the German telecommunications group. Kathimerini understands the purchase price of 20% of Desquared, which has a valuation of more than 20 million euros, was set at €5 million.

The Athens stock market rebounded strongly Monday, on the back of bank shares' performance and positions on other blue chips.

The general index ended up 1.74%, at 1,285.27 points, on turnover of €108.5 million.

OTE Group announced Thursday that second-quarter consolidated revenue rose 1.1% year-on-year, to €854.1 million.

But adjusted operating profit (after leases) fell 1.8% in the same period, to €326.8 million, with the strong results increase offset by negative ones in Romania. Q1 adjusted operating profit dropped 1.4%, to €648.8 million.

BELGRADE - Telekom Srbija CEO Vladimir Lucic said on Tuesday the company's expansion to Germany was its "biggest undertaking yet."

Telekom Srbija launched its services in Germany on Monday.

A majority of EU countries have rejected a push by Europe's big telecoms operators to force Big Tech to help fund the rollout of 5G and broadband in the region, people familiar with the matter said.