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MIG controls 13% of OTE

18/10/2007 09:59
The stake of Marfin Investment Group in the share capital of Hellenic Telecommunications Organization (OTE) has increased. After the gradual acquisition of shares, MIG controls 13.049% of OTE.

Head of MIG, Andreas Vgenopoulos requested recently by OTE to appoint a Group’s member in the Board of Directors of the Organization.

OTE will hold an Extraordinary General Meeting on November 8 to change its Articles of Association and to pave the way for the issue of preference shares with or without voting rights. Sources say that OTE will proceed with the consolidation with the issue of preference shares without rights. The shares will be exchanged with those of Cosmote.

The EGM will also approve the amendment of article 8, which will pave the way for the appointment of an MIG member in the BoD of the Organization.