Deutsche Telekom to Invest in Greek Infrastructure

   By Nektaria Stamouli

ATHENS--Deutsche Telekom (DTE.XE) intends to invest up to 2 billion euros (about $2.5 billion) in Greece for infrastructure and new generation networks over the next four years, its CEO Tim Höttges said during a meeting with Greek Prime Minister Alexis Tsipras on Thursday.

Deutsche Telekom is the majority shareholder in Greece's formerly state-owned telecoms group, the Hellenic Telecommunications Organisation, OTE, and controls its board.

Last week, the German telecommunications company acquired an additional 5% in OTE, raising its stake to 45%.

It said it plans to invest up to EUR2 billion until 2022 on developing an optic-fiber network and fifth-generation (5G) mobile network.

Write to Nektaria Stamouli at nektaria.stamouli@wsj.com

(END) Dow Jones Newswires

March 29, 2018 13:32 ET (17:32 GMT)

Hellenic Telecommunicati... (PK) (USOTC:HLTOY)
Historical Stock Chart
From May 2024 to Jun 2024