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Deutsche Telekom Said in Talks to Buy Greece’s OTE Stake

Deutsche Telekom AG offered to acquire the remaining 10 percent holding in Hellenic Telecommunications Organization SA held by the Greek government, according to two people familiar with the matter.

The German carrier owns 40 percent of Greece’s largest phone company, also known as OTE, and consolidates it under a 2008 shareholder agreement. A price hasn’t been agreed on, said the people, who asked not to be identified because the talks are private. OTE shares jumped 3.1 percent to 10.80 euros in Athens, valuing the stake at 530 million euros ($715 million).