Deutsche Telekom and OTE Groups Delegation visits Romania

A joint delegation of the telecom groups Deutsche Telekom and OTE has visited Romania. The delegation was set up by Mr. Rene Obermann - CEO of Deutsche Telekom, Mr. Hamid Akhavan - Member of the Board of Management of Deutsche Telekom, responsible for T-Mobile, Product Development, Technology & IT and Mr. Panagis Vourloumis - Chairman & CEO of the OTE Group.

The purpose of the visit was to meet high level officials of the Romanian State in the context of the pending OTE acquisition process.

This visit follows the announcement made earlier this year about the agreement signed on 14^th May 2008 between Deutsche Telekom and the Greek State on the new shareholding structure of OTE. Pursuant to this agreement - which is still subject to final approval of the European Commission and other competition and regulatory authorities, Deutsche Telekom will, in agreement with the Greek Government, assume management control of OTE and fully consolidate OTE.

Currently, OTE holds a stake of 54.01% in Romtelecom while the remaining of 45.99% is being held by the Romanian State, through the Ministry of Communications and Information Technology. Cosmote Greece holds 70% of Cosmote Romania while the remaining of 30% is being held by Romtelecom.