ATHENS, Sept 25 (Reuters) - Greece's biggest telecomscompany OTE, a unit of Deutsche Telekom,said on Wednesday it planned to invest 1.2 billion euros ($1.62billion) to upgrade its Greek network over the next four years.
A big part of the money will go towards financing newgeneration networks in fixed and mobile telephony, OTE's chiefexecutive officer Michael Tsamaz said after meeting Greek PrimeMinister Antonis Samaras.
Vodafone, which is trying to challenge OTE's leadership inthe Greek mobile phone market, announced earlier this month itplanned to build a 4G network in the austerity-hit country.
OTE's mobile phone unit Cosmote already runs a 4G network inGreece and also expands its television business to retaincustomers who are switching to cheaper rivals.
Vodafone (VOD)