Qrascom Telecom is reportedly interested in acquiring stake in Greek fixed line incumbent OTE. The Greek government is planning to sell a portion of its 38.7 per cent stake in OTE by June 2007 but has ruled out the option of OTE merging with the Egypt-based group’s majority-owned Italian subsidiary Wind.
Spain’s Telefónica, which was earlier planning to bid for OTE, has dropped out of the race. Meanwhile, Orascom would acquire an additional 1.21 per cent indirect stake in its Algerian GSM operation, Orascom Telecom Algeria (OTA), for $61 million. It would finance this stake from internal funds.
