Deutsche Telekom enters into purchase agreement for a 20 percent stake in Greek telecommunications company OTE – Execution conditional upon further agreements
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 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.
This release contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. They are generally identified by the words “expect,” “anticipate,” “believe,” “intend,” “estimate,” “aim,” “goal,” “plan,” “will,” “seek,” “outlook” or similar expressions and include generally any information that relates to expectations or targets. Forward-looking statements are based on current plans, estimates and projections. You should consider them with caution. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom’s control, including those described in the sections “Forward-Looking Statements” and “Risk Factors” of the company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. Among the relevant factors are the impacts of significant strategic or business initiatives, including acquisitions, dispositions and business combinations. In addition, regulatory rulings, stronger than expected competition, technological change, litigation and supervisory developments, among other factors, may have a material adverse effect on costs and revenue development. Further, an economic downturn in Europe or North America, and changes in exchange and interest rates, may also have an impact on our business development and availability of capital under favorable conditions. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Deutsche Telekom’s actual results may be materially different from those expressed or implied by such statements. Deutsche Telekom can offer no assurance that its expectations or targets will be achieved. Deutsche Telekom does not assume any obligation to update forward-looking statements to take new information or future events into account or otherwise.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.