OTE

This article is about the OTE company. For further meanings see Ote .

Hellenic Telecommunications Organization SA
legal form	Corporation
ISIN	GRS260333000
founding	October 23, 1949
Seat	Marousi , Greece
management	Michael Tsamaz ( CEO )
Number of employees	approx. 22,000 (2015)
sales	€ 2.846 billion (2017)
Branch	Fixed line telephony , mobile communications , Internet services
Website	www.ote.gr
As of December 31, 2017

The administration of the OTE in Marousi

The Hellenic Telecommunications Organization SA , Greek OTE AE (short for Οργανισμός Τηλεπικοινωνιών Ελλάδος Organismos Tilepikinonion Ellados "Organization of Telecommunications of Greece"), is a former state-owned telecommunications company in Greece . Since mid-2011, the Greek state has held 10% (plus one vote) and Deutsche Telekom 40% (plus one vote) of the shares in the company, whose shares are traded on the Athens Stock Exchange and the New York Stock Exchange and in the Athex Composite Share Price Index are listed. The entrepreneurial management lies with Deutsche Telekom.

history

The telephone network in Greece was fragmented into countless private companies in the first half of the 20th century. The only larger company, the private Α.Ε.Τ.Ε., founded in 1926. (Ανώνυμης Ελληνικής Τηλεφωνικής Εταιρείας) was bought by the state with the aim of centralization to improve the supply. For this purpose, OTE was founded as a state telecommunications company on October 23, 1949 . In the early 1990s the company expanded to Southeast Europe.

OTE has been listed on the Athens Stock Exchange since 1996, and on the New York Stock Exchange since 1998. In 2003 the group started offering ADSL in Greece. In 2008, Deutsche Telekom became a shareholder in OTE. Deutsche Telekom's entry into OTE was the occasion for a fundamental debate in the Greek parliament. The opposition made the unwinding of telecom participation an election issue.

In 2004, OTE was the national sponsor of the Olympic Games . From 2001 to 2006 the company was the shirt sponsor of the first division soccer team Panathinaikos Athens .

Holdings

• In 1997, OTE and Telenor founded the Greek mobile communications company Cosmote . OTE has owned all the shares in Cosmote since 2008. OTE is active in mobile communications in Albania and Romania through Cosmote . The Cosmofon network in the former Yugoslav Republic of Macedonia had to be sold to the Slovenian Telekom for 190 million euros in March 2009 due to Deutsche Telekom's entry into OTE , as T-Mobile already operates a network there and is therefore the market leader. The Bulgarian mobile communications subsidiary was sold to Telenor in April 2013 for EUR 717 million.
• From 1998, OTE held 90% of the shares in Armentel , the largest telecommunications company in Armenia . Difficulties arose here, as OTE was accused of exploiting the Armentel's monopoly and inadequately meeting the conditions entered into during the privatization . After OTE threatened to withdraw from Armentel, a compromise was found with the Armenian government in which OTE remains a monopoly in the fixed line business, but in return agreed to give up ArmenTel GSM's monopoly in mobile telephony, whereupon a second cell phone license to a company is swiftly issued was awarded from Lebanon . On December 3, 2006, the stake in Beeline , the second largest mobile operator in Russia, was sold for EUR 341.9 million .
• In 1997 OTE acquired 20% of Telekom Srbija . In January 2012, the Republic of Serbia bought back the shares for 300 million euros, so that the company is now completely owned by the state.
• In 1998 OTE took over 35% of the Romanian "RomTelecom". OTE later acquired additional shares and is now the largest shareholder with 54%. The other 46% are owned by the Romanian state. In September 2014 RomTelecom was renamed Telekom Romania .
• In February 2013, OTE sold its shares in the satellite operator “Hellas Sat” to “Arabsat” for EUR 208 million.

Web links

• Official company homepage (Greek)
• The OTE Group and its subsidiaries
• OTE company profile
• OTE history
• Company history of OTE ( Memento from February 17, 2013 in the web archive archive.today )

swell

1. ↑ Telekom acquires another ten percent in OTE , press release of June 6, 2011, Deutsche Telekom , accessed on February 10, 2016
2. ↑ Expansion: Deutsche Telekom buys shares from OTE . In: Der Spiegel , March 17, 2008, accessed February 10, 2016
3. ^ Greek opposition protests against Telekom takeover . In: Heise online , May 17, 2008, accessed on February 10, 2016
4. ↑ Telekom Slovenije takes over Macedonian Cosmofon . In: Der Standard , March 30, 2009, accessed February 10, 2016
5. ↑ Norwegians get hold of Bulgaria division of Deutsche Telekom subsidiary OTE . In: Der Standard , April 28, 2013, accessed February 10, 2016
6. ↑ Serbia buys back shares in Telekom Srbija from OTE . In: Der Standard , December 6, 2011, accessed February 10, 2016
7. ↑ infosat.de: Romania becomes part of the Deutsche Telekom brand
8. ↑ infosat.de: Arabsat takes over Greek satellite operator Hellas Sat
9. ↑ OTE timeline