OTE
 |
|
| S.A. | |
| Traded as | : OTC Pink: |
| Industry | Telecommunications |
| Founded | 1949 |
| Headquarters | Maroussi, Greece |
|
Area served
|
Balkan Peninsula |
|
Key people
|
Michael Tsamaz (Chairman & CEO) |
| Products |
Fixedline telephony Mobile Telephony Broadband internet Digital television IT Services |
| Revenue |
 €6.165 billion (2015)
|
|
€1.423 billion (2015)
|
|
| Profit |
€580.8 million (2015)
|
| Total assets |
€9.281 billion (2015)
|
| Total equity |
€4.588 billion (2015)
|
| Owner |
Deutsche Telekom (40%) Government of Greece (10%) |
|
Number of employees
|
32,660 (2015) |
| Subsidiaries |
Cosmote Cosmote TV OTEGlobe Germanos Group |
| Website | www |
Hellenic Telecommunications Organization S.A. (Greek: Οργανισμός Τηλεπικοινωνιών Ελλάδος Α.Ε., Organismós Tilepikinonión Elládos AE), usually known by its Greek initials OTE, is the dominant telecommunications provider in Greece. Along with its subsidiaries, is one of the largest telecom groups in South Eastern Europe. OTE Group offers broadband services, fixed and mobile telephony, high-speed data communications and leased lines services. In addition, the Group in Greece is involved in a range of activities, notably satellite communications, real-estate and professional training. At present, OTE companies employ about 30,000 people in 4 countries. Formerly a state-owned monopoly, OTE's privatization started in 1996 and is now listed on the and Stock Exchanges.
Since July 2009 Deutsche Telekom is the largest shareholder of the company.
In September 2015, the company announced they are to discontinue the use of the OTE name and will instead adopt Cosmote as a uniform commercial brand. The company chose not to adopt the Deutsche Telekom brand under which name it operates in its Central and Eastern European operations.
Starting in 1996, the Greek State gradually decreased its participation in OTE’s share capital. Following an agreement between the Greek State and Deutsche Telekom, as of November 2008 each party held 25% plus one share of OTE’s share capital. Following a further sale of shares and voting rights, as of 11 July 2011 Deutsche Telekom’s stake in OTE has risen to 40% while that of the Greek State amounts to 10%.
OTE owns 54% of the share capital of Telekom Romania (former Romtelecom), the main telecommunications operator in Romania, providing fixed-line services (voice, broadband, data and leased lines) and satellite TV services to the local market. OTE owns also 86.2% in mobile telephony division of Telekom Romania (former Cosmote Romania).
The OTE Group mobile telecommunications subsidiary, COSMOTE, is also present in mobile telephony in Albania through Telekom Albania (97.2%)
OTE Group’s revenues in 2015 amounted to €3,902.9 million compared to €3,918.4 million in 2014. OTE Group ended 2015 with net debt at €859.8 million, down by 23.6% compared to 2014
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Wikipedia