5th Dec 2006 10:40
Hellenic Telecomms Organization S A05 December 2006 Announcement Romtelecom IPO Athens, December 5, 2006 - Hellenic Telecommunications Organization SA (ASE:HTO, NYSE: OTE), the Greek full-service telecommunications provider, todayannounced that a meeting took place on November 2, 2006 at the Romanian Ministryof Telecommunications to review progress on the plan for a public offering (IPO)of the shares of the Romanian Government in Romtelecom. Initially the IPO wasscheduled for the first half of 2007. Participants at the meeting were the two shareholders of Romtelecom, representedon the part of the Romanian Government (46%) by Mr. Zsolt Nagy, Minister ofTelecommunications and on the part of OTE (54%) by Mr. Panagis VourloumisPresident and Managing Director. After reviewing the conditions of the market it was mutually agreed that the IPOshould be postponed, without setting a new date or time schedule. The Board of Directors of Romtelecom was notified immediately as was the Boardof Directors of OTE. The development does not affect the operations or value ofOTE or of Romtelecom. About OTE OTE Group is Greece's leading telecommunications organization and one of thepre-eminent players in South-eastern Europe, providing top-quality products andservices to its customers. Apart from serving as a full service telecommunications group in the Greektelecoms market, OTE Group has also expanded during the last decade itsgeographical footprint throughout South East Europe, acquiring stakes in theincumbent telecommunications companies of Romania and Serbia, and establishingmobile operations in Albania, Bulgaria, the Former Yugoslav Republic ofMacedonia and Romania. At present, companies in which OTE Group has an equityinterest employ over 30,000 people in six countries, and our portfolio ofsolutions 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 aswell as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE'sAmerican Depository Receipts (ADR's) represents 1/2 ordinary share.Additional Information is also available on http://www.ote.gr. Contacts: OTE: Dimitris Tzelepis - Head of Investor Relations Tel: +30 210 611 1574, Email: [email protected] Nektarios Papagiannakopoulos-Senior Financial Analyst, Investor Relations Tel: +30 210 611 7593, Email: [email protected] Daria Kozanoglou - Communications Officer, Investor Relations Tel: +30 210 611 1121, Email: [email protected] Marilee Diamanti - IR Coordinator Tel: +30 210 611 5070, Email: [email protected] Christina Hadjigeorgiou - Financial Analyst Tel: +30 210 611 1428, Email: [email protected] Forward-looking statement Any statements contained in this document that are not historical facts areforward-looking statements as defined in the U.S. Private Securities LitigationReform Act of 1995. All forward-looking statements are subject to various risksand uncertainties that could cause actual results to differ materially fromexpectations. The factors that could affect the Company's future financialresults are discussed more fully in the Company's filings with the U.S.Securities and Exchange Commission (the "SEC"), including the Company's AnnualReport on Form 20-F for 2005 filed with the SEC on June 29, 2006. OTE assumes noobligation to update information in this release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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