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Andreas Fuchs

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Deutsche Telekom’s stake in voting rights in Greek subsidiary OTE increases to 50 percent

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  • OTE share buy-back

Deutsche Telekom’s stake in voting rights in its Greek subsidiary Hellenic Telecommunications Organization S.A. (OTE) has now reached the 50-percent mark. The OTE share buy-back, in the course of which Deutsche Telekom did not sell any shares, resulted in the increase of Deutsche Telekom’s stake in voting rights to 50.00 percent. As OTE has been a fully consolidated member of the Group since 2008 as a result of the shareholder agreement concluded at the time with the Greek government, this attainment to the threshold value does not change OTE’s inclusion in the Deutsche Telekom consolidated financial statements.

Deutsche Telekom initially acquired a 20 percent stake in the company in 2008. Over the years, this stake has grown through various transactions.

This media information contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. They are generally identified by the words “expect,” “anticipate,” “believe,” “intend,” “estimate,” “aim,” “goal,” “plan,” “will,” “seek,” “outlook,” or similar expressions and include generally any information that relates to expectations or targets for revenue, adjusted EBITDA AL, or other performance measures. Forward-looking statements are based on current plans, estimates, and projections, and should therefore be considered with caution. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom's control. They include, for instance, the progress of Deutsche Telekom's staff-related restructuring measures and the impact of other significant strategic or business initiatives, including acquisitions, dispositions, and business combinations. In addition, movements in exchange rates and interest rates, regulatory rulings, stronger than expected competition, technological change, litigation and regulatory developments, among other factors, may have a material adverse effect on costs and revenue development. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Deutsche Telekom's actual results may be materially different from those expressed or implied by such statements. Deutsche Telekom can offer no assurance that its expectations or targets will be achieved. Without prejudice to existing obligations under capital market law, Deutsche Telekom does not assume any obligation to update forward-looking statements to account for new information or future events or anything else. In addition to figures prepared in accordance with IFRS, Deutsche Telekom presents alternative performance measures, e.g., EBITDA, EBITDA AL, adjusted EBITDA, adjusted EBITDA AL, adjusted EBITDA margin AL, core EBITDA, adjusted EBIT, EBIT margin, adjusted net profit/loss, adjusted earnings per share, free cash flow, free cash flow AL, gross debt, and net debt. These measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or any other generally accepted accounting principles. Other companies may define these terms in different ways.

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