Deutsche Telekom enters into purchase agreement for a 20 percent stake in Greek telecommunications company OTE

Deutsche Telekom announces that it has entered into a purchase agreement with Marfin Investment Group (MIG) by which Deutsche Telekom will acquire all shares held by MIG in the Greek telecommunications company Hellenic Telecom (OTE), representing just under 20% of the ordinary share capital of OTE for €26 per share or approx. €2.5bn in total.

The execution of this agreement is conditional upon Deutsche Telekom’s Supervisory Board approval as well as Deutsche Telekom entering into a shareholder agreement with the Greek government and attaining approval from the Inter-Ministerial Committee (IMC) for Deutsche Telekom to increase its stake in implementation of its strategic objectives. Deutsche Telekom expects to initiate discussions with the Greek government with the aim to reach agreement in the very near future.