Last checked at 13 Oct 2014 17:35
ANNOUNCEMENT
MORE ADVANCED 4G SERVICES
FOLLOWING 800MHZ AND 2.6GHZ SPECTRUM ACQUISITION
- Total investment reaches 135 million euros
- Faster speeds and broader coverage
Athens, October 13, 2014 -The Hellenic Telecommunications Organization SA (OTE SA or the Company)announces that, COSMOTE has secured rights to use radio frequencies in the 800MHz and 2.6GHz spectrum bands, following the auction process conducted by the Hellenic Telecommunications and Post Commission (HTPC).
With this new investment, COSMOTE aims to further enhance the speed and coverage of its extensive 4G network, both in urban and rural areas, thus meeting its customers' needs for ultra-high speeds and advanced communication services. The total amount invested by the company reaches 134.788 million euros. Spectrum costs are additional to the 1.2 billion euros that OTE Group invests in Greece over a 4-year period, especially for New Generation fixed and mobile networks.
OTE Group's Chairman and CEO, Mr Michael Tsamaz, stated: "Our priority is our customers' needs. With COSMOTE's new investment of 135 million euro in spectrum, we can further enhance the services we provide. We are advancing our networks, further improving the experience we offer, especially with regards to 4G. We are, by far, the largest investor in telecommunications in Greece - we affirmed that, allocating the largest amount in today's auction. By investing in telecommunications, we invest in the country's growth potential".
In particular, COSMOTE has been granted:
• 2 spectrum blocks of 2x5MHz in the 791-821MHz and 832-862MHz bands, for a total price of 103 million euros.
• 6 spectrum blocks of 2x5 MHz in the 2500-2570MHz and 2620-2690MHz bands, for a total price of 28.212 million euros.
• 2 unpaired spectrum blocks of 10 MHz in the 2575-2615MHz, for a total price of 3.576 million euros.
The aforementioned rights have been granted to COSMOTE until 28.02.2030.
Through dynamic investments, COSMOTE continues to upgrade and expand its advanced network, establishing its technological superiority and enjoying the trust of the majority of subscribers in Greece. Offering more than double coverage compared to other networks1, COSMOTE's 4G network is already available to more than 60% of the country's population, with the company aiming to provide 70% population coverage by the end of the year.
[1]Based on publicly available data on 4G population coverage from mobile providers’ official websites.
About OTE
OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers.
Consisting of the parent company OTE S.A. and its subsidiaries, the Group offers fixed-line (voice, broadband, data and leased lines) TV and mobile telephony services in Greece and Romania, as well as mobile telephony services in Albania. The Group is also involved in a range of activities in Greece, notably in real-estate and professional training.
OTE is listed on the Athens Stock Exchange and the London Stock Exchange. Following OTE's delisting from the NYSE, OTE's ADSs (American Depositary Shares) trade in the OTC (Over the Counter) market under the ticker HLTOY through the Level I ADSs program.
Additional Information is also available on https://www.ote.gr.
Contacts:
Evrikos Sarsentis - Head of OTE Group Mergers, Acquisitions and Investor Relations
Tel: +30 210 611 1574, Email: esarsentis@ote.gr
Maria Kountouri - Assistant to the Head of OTE Group Mergers, Acquisitions and Investor Relations
Tel: +30 210 611 5381, Email: mkountouri@ote.gr
Kostas Maselis - Senior Financial Analyst, OTE Group Mergers, Acquisitions and Investor Relations
Tel: + 30 210 611 7593, Email: kmaselis@ote.gr
Sofia Ziavra - Financial Analyst, OTE Group Mergers, Acquisitions and Investor Relations
Tel: + 30 210 611 8190, Email: sziavra@ote.gr
Christina Hadjigeorgiou, - Financial Analyst, OTE Group Mergers, Acquisitions and Investor Relations
Tel: + 30 210 611 1428, Email: cchatzigeo@ote.gr
Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer, OTE Group Mergers, Acquisitions and Investor Relations
Tel: +30 210 611 1121, Email: nkozanoglou@ote.gr
Eleni Agoglossaki - Communications & Regulatory Affairs Officer, OTE Group Mergers, Acquisitions and Investor Relations
Tel: +30 210 611 7880, Email: eagoglossak@ote.gr
Manousos Apostolakis - Communications & Regulatory Affairs Officer, OTE Group Mergers, Acquisitions and Investor Relations
Tel: +30 210 611 6418, Email: mapostolakis@ote.gr