27th Apr 2009 14:43
HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.
Announcement
COSMOTE COMPLETES THE ACQUISITION
OF A 12.6% STAKE IN AMC
Αthens, April 27, 2009 - Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces that its 100% subsidiary Cosmote completed the acquisition process of a 12.6%, stake held by the Albanian State, in its subsidiary AMC following the approvals of the relevant authorities in Albania.
The cash consideration for the above capital stake stands at €48.2 mn.
Following the official conclusion of the transaction, Cosmote owns directly or indirectly (through its 97% owned subsidiary COSMO-HOLDING ALBANIA S.A.) a 95% stake in AMC.
About AMC
AMC, member of Cosmote Group since 2000, launched commercial operations in 1996, being the first mobile telecommunications company to operate in Albania. Today, AMC has a customer base of 1.4 million (December 2008). In 2008 AMC's revenues reached €191.3 mn. The company's EBITDA margin stood at 64.7%, one of the highest in Europe.
About OTE
OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers.
Apart from serving as a full service telecommunications group in the Greek telecoms market, OTE Group has also expanded during the last decade its geographical footprint throughout South East Europe, acquiring stakes in the incumbent telecommunications companies of Romania and Serbia, and establishing mobile operations in Albania, Bulgaria and Romania. At present, companies in which OTE Group has an equity interest employ over 30,000 people in five countries, and our portfolio of solutions ranges from fixed and mobile telephony to Internet applications, satellite, maritime communications and consultancy services.
Listed on the Athens Stock Exchange, the company trades under the ticker HTO as well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE's American Depository Receipts (ADR's) represents ½ ordinary share.
Additional Information is also available on http://www.ote.gr.
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Contacts:
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OTE:
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Dimitris Tzelepis - Head of Investor Relations
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Tel: +30 210 611 1574, Email: [email protected]
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Maria Kountouri - Assistant to the Head of Investor Relations
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Tel: +30 210 611 5381, Email:[email protected]
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Nektarios Papagiannakopoulos - Senior Financial Analyst, Investor Relations
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Tel. +30 210 611 7593, Email: [email protected]
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Christina Hadjigeorgiou - Financial Analyst, Investor Relations
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Tel: +30 210 611 1428, Email: [email protected]
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Dimitris Tsatsanis - Financial Analyst, Investor Relations
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Tel: +30 210 611 6071, Email: [email protected]
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Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer, Investor Relations
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Tel: +30 210 611 1121, Email: [email protected]
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Eftychia Tourna - Communications & Regulatory Affairs Officer, Investor Relations
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Tel: +30 210 611 7236, Email:[email protected]
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Eleni Agoglossaki - Communications & Regulatory Affairs Officer, Investor Relations
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Tel: +30 210 611 7880, Email: [email protected]
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Forward-looking statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company's future financial results are discussed more fully in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 20-F for 2006 filed with the SEC on June 28, 2007. OTE assumes no obligation to update information in this release.
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