1st Jul 2014 07:30
ANNOUNCEMENT
OTE submits non-binding offer for the acquisition of NOVA
ATHENS, Greece - July 1, 2014 - Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET:HLTOY), the Greek full-service telecommunications provider, announces, following the approval of its Board of Directors, the submission of a non-binding offer to FORTHNET for the acquisition of the NOVA pay TV operations.
OTE has been developing its pay TV operations successfully during the past few years and sees significant growth potential for Greek pay TV services, to the benefit of consumers. OTE believes the intended agreement will be beneficial to all involved parties and is consistent with OTE Group's strategic priorities.
OTE's non-binding offer is within the range of 250-300 million Euros on a debt free/ cash free basis of the aforementioned NOVA pay TV operations. In the event that an agreement is reached, it will be subject to clearance from the competent authorities.
Barclays is acting as OTE's financial advisor.
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.
Consisting of the parent company OTE S.A. and its subsidiaries, the Group offers fixed-line (voice, broadband, data and leased lines) TV and mobile telephony services in Greece and Romania, as well as mobile telephony services in Albania. The Group is also involved in a range of activities in Greece, notably in real-estate and professional training.
OTE is listed on the Athens Stock Exchange and the London Stock Exchange. Following OTE's delisting from the NYSE, OTE's ADSs (American Depositary Shares) trade in the OTC (Over the Counter) market under the ticker HLTOY through the Level I ADSs program.
Additional Information is also available on https://www.ote.gr.
Contacts:
Dimitris Tzelepis - Head of Investor Relations
Tel: +30 210 611 1574, Email: [email protected]
Maria Kountouri - Assistant to the Head of Investor Relations
Tel: +30 210 611 5381, Email: [email protected]
Kostas Maselis - Senior Financial Analyst, Investor Relations
Tel: + 30 210 611 7593, Email: [email protected]
Sofia Ziavra - Financial Analyst, Investor Relations
Tel: + 30 210 611 8190, Email: [email protected]
Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer,
Investor Relations
Tel: +30 210 611 1121, Email: [email protected]
Eleni Agoglossaki - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7880, Email: [email protected]
Manousos Apostolakis - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 6418, Email: [email protected]
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