Greek telecom incumbent OTE may consider selling its satellite unit Hellas Sat in order to refinance its debt, the company said during a media lunch.
The company, which is majority-owned by Deutsche Telekom, currently has about €5bn in debt, of…
Greek telecom incumbent OTE may consider selling its satellite unit Hellas Sat in order to refinance its debt, the company said during a media lunch.
The company, which is majority-owned by Deutsche Telekom, currently has about €5bn in debt, of which €3.4bn is expected to mature in 2014.
But because of tight lending markets in Greece, and in Europe as a whole, OTE has chosen to sell some assets instead in order to raise the much-needed financing.
In late December, the incumbent had already confirmed that it was selling its 20% stake in Telecom Srbija back to the state-owned company for €380m.
As for the sale of Hellas Sat, the names of potential suitors have not yet been disclosed.
However, in mid-September, SES CEO Romain Bausch told journalists that the satellite would consider acquiring Hellas Sat if put up for sale.
