OTE plans NYSE delisting

Greek incumbent OTE announced it planned to delist from the New York Stock Exchange with a view to reducing costs.
“OTE’s decision to delist from the NYSE is aimed at cutting administrative costs, reducing complexity in financial reporting, and…

Greek incumbent OTE announced it planned to delist from the New York Stock Exchange with a view to reducing costs.

“OTE’s decision to delist from the NYSE is aimed at cutting administrative costs, reducing complexity in financial reporting, and concentrating trading of its shares on the market providing the highest liquidity, the Athens Stock Exchange,” said the company.

Deutsche Telekom is the major shareholder of OTE with a 30% stake.