Deutsche Telekom

OTE ordered to pay 3.4 million euros to Thessaloniki over phone booths

The Council of State, Greece's top administrative court, upheld a lower court decision to slap a 3.46-million-euro fine on OTE Telecom for installing phone booths in the northern port city of Thessaloniki without permission from the municipality.
A section of the court decided that the ruling of an administrative appeal court in Thessaloniki was in line with its case law.

OTE taps markets securing record low interest rate

OTE telecom announced on Wednesday the conclusion on Tuesday of the bookbuilding process for the issuance of a 500 million-euro seven-year bond in international debt capital markets.
The issuance was strongly oversubscribed allowing tight pricing. The coupon was set at 0.875 percent, the lowest ever achieved, OTE stated.

Telecoms firms have many nonpayers

Despite the fact that Greece appears to be over the worst of the financial crisis, telecoms firms are still suffering from negligent payers.
Total nonpayments are expected to be around 100 million euros this year, as was the case in previous years.
Accumulated nonpayments in December 2018 stood at 1.2 billion euros, only slightly lower than the 1.29 billion at end-2017.

Greece secures EU okay to roll out 300 mln-euro broadband network

Greece secured EU regulatory approval on Wednesday for a 300-million-euro ($334.4 million) scheme to roll out an ultrafast broadband network across the country.

The project is funded by the European Regional Development Fund, the European Agricultural Fund for Rural Development and private investors.

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