The Hellenic Telecommunications Organization (OTE) announced that, in the effort to increase and strengthen its overall value and dynamics, and following the successful spin-offs of the Customer Service, Shops and Field Technical Services units, absorbed by Cosmote E-Value Group, Germanos and Cosmote Technical Services, it is exploring the spin-off of its activities related to the passive infrastructure of mobile telephony towers into a 100% subsidiary.
This move aims to better utilize and enhance the transparency regarding the value of the specific asset.
Οnce completed, subject to approval by the Company’s relevant decision-making bodies, this process will support the optimization and efficiency of the Group’s operations.
The spin-off is not expected to have any impact on the Group’s consolidated financial results, the company said.
Furthermore, the Company announced that it is investigating alternatives and possibilities to optimize its activity in the pay-tv operations for reducing its costs.
It is an operating model that has been followed by many telecommunications organizations, including its main shareholder, Germany’s Deutsche Telekom, reaping profits after selling a percentage of companies that aggregate passive infrastructure.
