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OTE May Sell a Unit to Fund Debt-Servicing, Naftemporiki Reports

Hellenic Telecommunications Organization SA (HTO), known as OTE, may sell one of its units in Albania, Bulgaria or Romania to obtain money for servicing debt, Naftemporiki reported, without citing anyone.

OTE, which faces a funding shortfall of 500 million to 700 million euros ($656 million to $919 million) will make decisions on how to increase liquidity and cut operating costs by the end of the first half, the newspaper said.

To contact the reporter on this story: Paul Tugwell at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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