Shaping up for the single currency
Having taken more than three years to float an initial tranche of 8% of state telephone company OTE last year, the Greek government is this month selling a further 12%, a move that will substantially deepen the Athens stock exchange and raise the profile of Greek equities abroad. Later this year OTE plans to become the first Greek company to list in New York, by way of American depositary receipts.
Despite being state-run, OTE is reckoned to be Greece’s best company.
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