Deutsche Telekom CEO Timotheus Höttges and Board member for Europe and Technology Claudia Nemat are visiting OTE today, in which DT has a 40 percent share. It is Timotheus Höttges’ first visit abroad to a European subsidiary since taking on his position as CEO on January 1, 2014. The main purpose of his trip is to hold discussions with employees and government representatives. During their presentation in front of some 400 employees at the OTE headquarters in Athens, the two managers emphasized that today OTE is standing firmly on its own two feet. “Our Greek subsidiary is independent and doesn’t rely on financing from the Group,” said Höttges. “The comprehensive restructuring program has greatly reduced its debt,” Nemat underlined, and added that the company’s development is also evaluated positively by the capital markets. Last year OTE successfully raised capital on the bond market and the share price has increased nearly tenfold compared to its lowest point in June 2012. OTE was able to strengthen its leadership position in mobile communications and stood its ground in the fixed network. The TV business has also grown. A big thank you is owed to the employees and the management team around Chairman and CEO of OTE Michael Tsamaz for these achievements. “Let’s work together to develop Deutsche Telekom, our Group, into the leading telecommunications provider in Europe with OTE as a strong cornerstone," Höttges appealed to the OTE employees. “The long-term goal is to create an integrated pan-European network of mobile and fixed networks based on All IP”, Nemat added. Greece as a whole deserves a lot of respect for how the country has made substantial progress in reforming its economy in such a short period of time, Höttges underlined. Over the past five years, OTE and Deutsche Telekom have invested about EUR 2 billion in the Greek market. According to current plans a further EUR 1.2 billion are due to be invested over the next four years. This should also have a positive impact on the labor market.
About Deutsche Telekom Deutsche Telekom is one of the world’s leading integrated telecommunications companies with 144 million mobile customers, 32 million fixed-network lines and over 17 million broadband lines (as of June 30, 2013). The Group provides fixed-network, mobile communications, Internet and IPTV products and services for consumers, and ICT solutions for business and corporate customers. Deutsche Telekom is present in some 50 countries and has over 231,000 employees worldwide. The Group generated revenue of EUR 58.2 billion in the 2012 financial year—over half of it outside Germany (as of December 31, 2012).