History
OTE was created in 1949 to bring several related public and private enterprises under one telecommunications umbrella. Prior to this, telephony, telegraphy, local and international connections were fragmented and ill-coordinated.
Up to 1998, the telecommunications market in Greece was a monopoly. The market was opened to competitors and OTE was gradually privatized. As a result, the Greek government currently holds 10% of the company's stock. Along with the rest of the telecoms market, OTE is regulated by the National Telecommunications and Post Commission (Εθνική Επιτροπή Τηλεπικοινωνιών και Ταχυδρομείων – EETT).
In 2007 Marfin Investment Group acquired 20% of the company, and in March 2008 sold it to Germany's Deutsche Telekom which later increased its stake to 25% plus one vote, matching that of the state.
Following the sale of a further 5% in 2009 and another 10% in 2011 of OTE’s share capital by the Greek state to Deutsche Telekom, the state holds 10% and DT 40%.
Read more about this topic: OTE
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