This month, forced to raise cash, Greece triggered an option to sell 10 percent of Hellenic Telecommunications Organization SA, known as OTE, to Deutsche Telekom AG. The price: less than one-third of what Europe’s largest phone company paid for shares when it last bought OTE stock in 2009.
.... and the buyer is Germany.
The problem for the Greeks is that now the Germans are going to make them work the Teutonic way, not the Hellenic style.
What would Plato say?
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
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