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Greece May Sell Hellenic Telecom Stake in June, Kathimerini Says

Greece may exercise an option to sell an additional 10 percent stake in Hellenic Telecommunications Organization SA to Deutsche Telekom AG as early as next month, Kathimerini reported, without citing anyone.

Hellenic Telecom may proceed with further cost cuts, including to benefits paid to employees, the Athens-based newspaper said, citing Chief Executive Officer Michael Tsamaz.

Deutsche Telekom holds a 30 percent stake in Hellenic Telecom and the Greek state owns 20 percent of the company.

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