Ote Ads Regulatory News (OTES)

30 Nov 2007 08:52

Hellenic Telecomms Organization S A30 November 2007 Announcement Athens, November 30, 2007 - Hellenic Telecommunications Organization SA (ASE:HTO, NYSE: OTE), the Greek full-service telecommunications provider, announcedtoday the signing of a definitive agreement with Rhone Capital LLC and ZarkonaTrading Limited for the sale of 100% of INFOTE, its classified directoryinformation subsidiary. The total value of the transaction is €300 million. Theclosing of the transaction is not subject to any regulatory or other approvalsand is expected to occur before the end of 2007. Commenting on the signing of the definitive agreement, Mr. Panagis Vourloumis,Chairman and CEO of OTE, said: "We are pleased to announce today the conclusionof the sale process for INFOTE. This transaction represents another step forwardin the strategy of OTE to focus on its core business activities and divest ofassets of a lesser strategic importance for the long term future of OTE." Rhone is an international private equity firm with offices in London, Paris andNew York. Zarkona is a corporate vehicle established for the purposes ofparticipating in acquisitions of businesses in Greece and the pan-Balkan region.Rhone and Zarkona will own 85% and 15%, respectively, in INFOTE post closing ofthe transaction. UBS Investment Bank acted as exclusive financial adviser to OTE. OTE INVESTOR RELATIONS OEL.: 210-6111574 FAX. 210-6111030 A-MAIL: dtzelepis@ote.gr This information is provided by RNS The company news service from the London Stock Exchange