SOFIA (Bulgaria), June 22 (SeeNews) – Greece's Hellenic Telecommunications Organisation (OTE) said on Friday it mulls selling its Bulgarian units - wireless operator Globul and retail chain Germanos Telecom Bulgaria.
"As part of its strategy to refinance obligations maturing in the next two years in the amount of 3.4 billion euro ($4.3 billion), which includes both extending the payment deadline and reducing the company's net debt, OTE is considering the possible sale of its Bulgarian units Globul и Germanos Telecom Bulgaria and plans to initiate the respective procedures," OTE’s press office told SeeNews in an emailed statement.
Globul is the trademark under which Cosmo Bulgaria Mobile offers mobile telecommunications services in Bulgaria. The company is fully owned by Greece's Cosmote, a member of the OTE Group.
In Bulgaria, Globul competes with Mobiltel, a unit of Telekom Austria Group, and VIVACOM.
Local weekly Capital, citing unnamed sources, said Globul and Germanos' potential buyers include Turkey's top mobile carrier Turkcell, British telecommunication services provider Vodafone and France’s Orange.
($ = 0.7977 euro)