OTE
Encyclopedia
Hellenic Telecommunications Organization S.A. , usually known by its Greek initials OTE, is the dominant telecommunications provider in Greece
. Formerly a state-owned monopoly
, OTE was part-privatized in 1998 and is now listed on the Athens
and New York Stock Exchanges. Since July 2009 Deutsche Telekom
is the largest shareholder of the company.
OTE was created in 1949 to bring several related public and private enterprises under one telecommunications umbrella. Prior to this, telephony, telegraphy, local and international connections were fragmented and ill-coordinated.
Up to 1998, the telecommunications market in Greece was a monopoly. The market was opened to competitors and OTE was gradually privatized. As a result, the Greek government currently holds 20% of the company's stock. Along with the rest of the telecoms market, OTE is regulated by the National Telecommunications and Post Commission (Εθνική Επιτροπή Τηλεπικοινωνιών και Ταχυδρομείων - EETT).
In 2007 Marfin Investment Group
acquired 20% of the company, and in March 2008 sold it to Germany's Deutsche Telekom
which later increased its stake to 25% plus one vote, matching that of the state.
Following the sale of a further 5% in 2009 and another 10% in 2011 of OTE’s share capital by the Greek state to Deutsche Telekom, the state holds 10% and DT 40%.
telephone
lines and also offers ADSL
in most urban areas. OTE is a group of companies owning, besides the OTE fixed-line company, an ISP
(Otenet
), a mobile phone company (Cosmote
) and other companies including OTE International Investments which in its turn owns telcos in Southeastern Europe (Bulgaria
, the Republic of Macedonia
, Romania
, Serbia
, etc.). On 3 November 2006 OTE sold its 90% stake in the Armenian telecom provider ArmenTel to a Russia
n company OJSC Vimpel-Communications. OTE also runs a TETRA
network.
On July 14, 2009, the company announced its intention to endorse the VDSL technology and then upgrade its optical fiber network to cover the increasing demand of broadband internet services
in Greece.
, Otenet
and OTEGlobe
which offer mobile, ISP and Internet backbone services respectively. The quality of Otenet's services has often been described as 'inadequate'. The poor performance of their networks on Greece's many small islands has drawn considerable criticism, especially.
OTE owns 20% of Telekom Srbija
as of 1997.
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
. Formerly a state-owned monopoly
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
, OTE was part-privatized in 1998 and is now listed on the Athens
Athens Stock Exchange
The Athens Stock Exchange or ASE or ATHEX is a stock exchange located in Athens, Greece.-History:The Athens Stock Exchange started trading in 1876. The Athens Stock Exchange is a subsidiary of Hellenic Exchanges S.A., whose shares are listed in ATHEX...
and New York Stock Exchanges. Since July 2009 Deutsche Telekom
Deutsche Telekom
Deutsche Telekom AG is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Europe....
is the largest shareholder of the company.
History
Up to 1998, the telecommunications market in Greece was a monopoly. The market was opened to competitors and OTE was gradually privatized. As a result, the Greek government currently holds 20% of the company's stock. Along with the rest of the telecoms market, OTE is regulated by the National Telecommunications and Post Commission (Εθνική Επιτροπή Τηλεπικοινωνιών και Ταχυδρομείων - EETT).
In 2007 Marfin Investment Group
Marfin Investment Group
Marfin Investment Group is a Greek investment company created in 1998 as Marfin Α.Ε.Π.Ε.Υ.. It has acquired several companies and has changed name several times since. In 2001 it acquired Piraeus Prime Bank and was renamed Marfin Bank...
acquired 20% of the company, and in March 2008 sold it to Germany's Deutsche Telekom
Deutsche Telekom
Deutsche Telekom AG is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Europe....
which later increased its stake to 25% plus one vote, matching that of the state.
Following the sale of a further 5% in 2009 and another 10% in 2011 of OTE’s share capital by the Greek state to Deutsche Telekom, the state holds 10% and DT 40%.
Services
The company covers the whole country with PSTN and ISDNIntegrated Services Digital Network
Integrated Services Digital Network is a set of communications standards for simultaneous digital transmission of voice, video, data, and other network services over the traditional circuits of the public switched telephone network...
telephone
Telephone
The telephone , colloquially referred to as a phone, is a telecommunications device that transmits and receives sounds, usually the human voice. Telephones are a point-to-point communication system whose most basic function is to allow two people separated by large distances to talk to each other...
lines and also offers ADSL
Asymmetric Digital Subscriber Line
Asymmetric digital subscriber line is a type of digital subscriber line technology, a data communications technology that enables faster data transmission over copper telephone lines than a conventional voiceband modem can provide. It does this by utilizing frequencies that are not used by a voice...
in most urban areas. OTE is a group of companies owning, besides the OTE fixed-line company, an ISP
Internet service provider
An Internet service provider is a company that provides access to the Internet. Access ISPs directly connect customers to the Internet using copper wires, wireless or fiber-optic connections. Hosting ISPs lease server space for smaller businesses and host other people servers...
(Otenet
Otenet
Otenet is a major internet service provider of Greece.Otenet S.A. is an S.A. providing Internet products and services. The major shareholder of OTEnet is OTE ....
), a mobile phone company (Cosmote
Cosmote
COSMOTE is the largest mobile network operator in Greece, with 7.9 million subscribers. The company is headquartered in Athens and it is a fully owned subsidiary of the Hellenic Telecommunications Organization , the incumbent telecommunications provider in Greece...
) and other companies including OTE International Investments which in its turn owns telcos in Southeastern Europe (Bulgaria
Bulgaria
Bulgaria , officially the Republic of Bulgaria , is a parliamentary democracy within a unitary constitutional republic in Southeast Europe. The country borders Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, as well as the Black Sea to the east...
, the Republic of Macedonia
Republic of Macedonia
Macedonia , officially the Republic of Macedonia , is a country located in the central Balkan peninsula in Southeast Europe. It is one of the successor states of the former Yugoslavia, from which it declared independence in 1991...
, Romania
Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
, Serbia
Serbia
Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...
, etc.). On 3 November 2006 OTE sold its 90% stake in the Armenian telecom provider ArmenTel to a Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n company OJSC Vimpel-Communications. OTE also runs a TETRA
Tetra
thumb|right|250px|Pristella tetra — [[Pristella maxillaris]].thumb|right|250px|Golden Pristella tetra, a [[morph |morph]] of [[Pristella maxillaris]].thumb|right|250px|[[Silvertip tetra]] — Hasemania nana....
network.
On July 14, 2009, the company announced its intention to endorse the VDSL technology and then upgrade its optical fiber network to cover the increasing demand of broadband internet services
Broadband Internet access
Broadband Internet access, often shortened to just "broadband", is a high data rate, low-latency connection to the Internet— typically contrasted with dial-up access using a 56 kbit/s modem or satellite Internet with inherently high latency....
in Greece.
Subsidiaries
OTE is in possession of various daughter-companies, including CosmoteCosmote
COSMOTE is the largest mobile network operator in Greece, with 7.9 million subscribers. The company is headquartered in Athens and it is a fully owned subsidiary of the Hellenic Telecommunications Organization , the incumbent telecommunications provider in Greece...
, Otenet
Otenet
Otenet is a major internet service provider of Greece.Otenet S.A. is an S.A. providing Internet products and services. The major shareholder of OTEnet is OTE ....
and OTEGlobe
OTEGlobe
OTEGLOBE is an Athens-based network backbone operator offering telecommunication services to carriers, ISPs and business customers in Southern Europe...
which offer mobile, ISP and Internet backbone services respectively. The quality of Otenet's services has often been described as 'inadequate'. The poor performance of their networks on Greece's many small islands has drawn considerable criticism, especially.
OTE owns 20% of Telekom Srbija
Telekom Srbija
Telekom Srbija is a telecommunications company based in Serbia, with its headquarters in Belgrade...
as of 1997.