Announcement of regulated information

Hellenic Telecomms Organization S A

11 March 2024

 

                                                     Announcement

Athens, March 11, 2024 - The Hellenic Telecommunications Organization S.A. ("OTE S.A." or "Company") announces 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.

Furthermore, the Company announces that it is investigating alternatives and possibilities to optimize its activity in the pay-tv operations for reducing  its costs.

The Company will proceed with more detailed information to capital markets, following relevant approvals.

The announcement is issued as Regulated Information in accordance with the provisions of Law 3556/2007 [article 3, par. 1 (p), and article 21] and Regulation 596/2014 (article 17) of the European Parliament and of the Council on the abuse of the market.

FOR FURTHER INFORMATION: 

OTE GROUP INVESTOR RELATIONS Τel. [phone], [phone] E-mail: [e-mail], [e-mail] , [e-mail]

 

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