1st Jul 2009 14:10
HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.
Announcement
Αthens, July 1, 2009 -The Greek full-service telecommunications provider OTE SA announces that its subsidiary Cosmote signed in Bucharest yesterday a share purchase agreement for the acquisition of Telemobil S.A. (Zapp) in Romania.
The consideration for the shares of Zapp is estimated at approximately €61 mn (equity value), while Cosmote will also assume the debt and other liabilities of Zapp, mainly concerning 3G and CDMA network roll out, estimated at approximately €146 mn. Citigroup Global Markets Limited (CITI) and N M Rothschild and Sons Limited acted as Cosmote's financial advisors for the transaction.
The acquisition is subject, among other conditions, to the approval of relevant Romanian authorities.
About Zapp
Zapp was the first mobile operator of the Romanian market. The company launched commercial operations in 1993. Today, it holds a CDMA license in the 450 MHz band and a 3G license at 2100 MHz. Its 3G network currently covers 23 Romanian cities. In 2008 Zapp's revenues amounted to €61 mn, while its customer base exceeded 374 thousand post paid customers.
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.
Contacts:
OTE: 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]
Nektarios Papagiannakopoulos - Senior Financial Analyst, Investor Relations
Tel. +30 210 611 7593, Email: [email protected]
Christina Hadjigeorgiou - Financial Analyst, Investor Relations
Tel: +30 210 611 1428, Email: [email protected]
Dimitris Tsatsanis - Financial Analyst, Investor Relations
Tel: +30 210 611 6071, Email: [email protected]
Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer,
Investor Relations
Tel: +30 210 611 1121, Email: [email protected]
Eftychia Tourna - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7236, Email: [email protected]
Eleni Agoglossaki - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7880, Email: [email protected]
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 2008 filed with the SEC on June 30, 2009. OTE assumes no obligation to update information in this release.
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