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The Hellenic Telecommunications Organisation (OTE) is Greece's incumbent fixed-line telecommunications operator, which has been privatised in stages since 1998.
In addition to providing local, long-distance and international fixed-line services to Greek and foreign businesses, consumers, and government agencies, OTE offers a range of other telecommunications services including mobile telephony, Internet access, ISDN, high-speed data communications, ADSL-based broadband services, sales of equipment and ATM, as well as leased lines, maritime and satellite telecommunications, telex and telegraphy, audiotex, telecards and directory services.
OTE provides fixed-line services directly, or through its subsidiaries, in Greece, Romania, Serbia and Armenia. Mobile telephony services are offered in Greece through CosmOTE, OTE's 64.37%-owned subsidiary, and in other countries including Armenia, Albania, Bulgaria, Romania, and the Former Yugoslav Republic of Macedonia (FYROM).
OTE's shares are listed on the Athens Stock Exchange and the New York Stock Exchange. In September 2005, the Greek government placed 49,058,200 OTE shares (10% of capital) with institutional investors at a price of €17.02 per share. Following this transaction, the government's interest in OTE amounted to approximately 38.7%.
