Greece is planning to sell part of its 38.6 per cent residual shareholding in OTE, the largest telecom operator in southeast Europe, to a foreign strategic investor in the first half of 2007.
Though the finance minister declined to specify what percentage of the OTE would be on offer, he made it clear that the buyer would be involved in the management. However, the state will retain a minority stake. Spain’s Telefónica, France Telecom and Deutsche Telekom have all shown interest in OTE, which launched a restructuring to prepare for full privatisation last year.
The group has a market value of about $11.5 billion.
