OTE

A prosecutor on Monday proposed that former PASOK minister Tasos Mandelis be found guilty of money laundering in relation to the sum of 450,00 German Marks (about 230,000 euros) that he is alleged to have received from German company Siemens for securing an OTE Telecom contract in 1997.

Greek telecommunications provider Wind Hellas on Thursday expressed certainty that it is on course for growth, as it seeks to expand its infrastructure and enter the pay-TV market.

Greek telecom operator OTE announced in a bourse filing on Thursday that it had won an 8.7-million-euro information technology project for Coca-Cola HBC (CCHBC).

OTE, a Deutsche Telekom subsidiary, will offer CCHBC technical support in 19 countries.

This is OTE's third IT project for the bottler.

[Reuters]

Deutsche Telekom has exercised its right of first refusal and will pay 284.05 million euros ($348.87 million) to acquire a 5 percent stake in Greece's biggest telecom operator OTE, the Greek privatization agency (HRADF) said on Wednesday.

Greece and Paneuropean Oil and Industrial Holdings are in talks to divest a combined majority stake in Greece's biggest oil refiner Hellenic Petroleum, Hellenic said.

Greece did not receive any bids for the sale of a minority stake in its biggest telecoms operator OTE and has invited Deutsche Telekom to exercise its right of first refusal to buy the shares, the Greek privatizations agency said on Friday.

OTE, a former national monopoly, is 40 percent owned and managed by Germany's Deutsche Telekom.

The National Broadcasting Council (ESR) on Tuesday rejected an appeal by the managing board of private television channel Mega to continue operating until a new TV license competition is held later this year.

The Athens bourse benchmark rose again on Friday, tipping the weekly balance from losses to gains, following two weeks on a downward slide. Trading volume remained low though, as investors appear reserved about the outlook of the local economy and the international landscape in general.

Several Novartis shareholders urged the Swiss drugmaker on Friday to improve its oversight of staff, amid a widening probe into allegations that managers paid bribes to doctors and public officials in Greece.

Leading telecom OTE announced on Thursday a 20.8 percent drop in group operating profits last year, with revenues shrinking 1.3 percent.