OTE

BELGRADE - Telekom Srbija CEO Vladimir Lucic said on Tuesday the Serbian telecoms giant had no intention of selling stocks but instead aimed to expand its operations and become the industry leader in the Western Balkans.

Lucic said this in a reaction to claims by some opposition representatives that Telekom Srbija was preparing to sell 20 pct of its stocks.

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.

September began at Athinon Avenue with concerns expressed by traders after the first hour related to the global economy and the fear of stagflation. That led the benchmark to losses of almost 1% and a drop below the 1,300-point mark on Friday.

The Athens Stock Exchange rose slightly on Thursday but could not scramble above 1,300 points, a level it has found difficult to sustain.

Investors made selective moves in some stocks and turnover was relatively low for a second session in a row.

The general index closed at 1,295.91 points, a 0.17% gain. Blue chips declined 0.11%, mid-caps gained 0.73% and banks slid 0.44%.

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.

The stock market faced a selling wave among heightened concern about the Chinese economy and fears that interest rates will stay high in both Europe and the US for some time.

The ASE general index ended 1.57% lower to 1,263.34 on turnover of €85.66 million. It was the fourth consecutive weekly drop (1.83%), while banks fell 3.02%.

The Athens Stock Exchange closed with mild gains of 0.9% on Wednesday, ending a run of three negative sessions.

The general index closed at 1,279.92 on turnover of €77.3 million. Blue chips gained 0.24%, mid-caps 0.36% and banks 0.02%.