Deutsche Telekom close to OTE deal; chance to expand in Slovakia – reports

first_img Deutsche Telekom, SoftBank tipped for T-Mobile trade Deutsche TelekomFinancialOTEServicesSlovak Telekom Previous ArticleEC: operators missing out on roaming usersNext ArticleUK’s leading operators back loyalty app, trial Apple’s iBeacon tech Author AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 17 FEB 2014 Deutsche Telekom, eager to bolster its credentials as a pan-European provider of fixed and mobile services, is reportedly close to a deal with the Greek government that would see it increase its 40 per cent stake in OTE, the country’s incumbent, to 50 per cent.According to unnamed sources at local newspaper To Vima, and cited by Reuters, the two sides are “in advanced talks” and “ready to shake hands”.OTE’s current share price on the Athens stock exchange gives the operator a market value of around €6.1 billion, making the 10 per cent stake worth about €610 million.Greece’s debt-laden government owns a direct 6 per cent of that stake, with the remaining 4 per cent held by state-pension fund IKA.Private shareholders make up the rest of OTE’s shareholders.New CEO Timotheus Höttges clearly sees OTE as important to the company’s strategy, making Greece his first subsidiary visit after taking over the helm at Deutsche Telekom on 1 January 2014.“Our Greek subsidiary is independent and doesn’t rely on financing from the group,” said Höttges on 30 January. “The comprehensive restructuring program has greatly reduced its debt.”Claudia Nemat, board member for Europe and technology at the German incumbent, added that the “long-term goal is to create an integrated pan-European network of mobile and fixed networks based on all IP”.Over the past five years, OTE and Deutsche Telekom have invested about €2 billion in the Greek market. Plans are in place to invest a further €1.2 billion over the next four years.Coinciding with developments in Greece, the German incumbent may well be able to increase its stake in Slovak Telekom in which it already owns 51 per cent.According to local reports, the government signed a memorandum with Deutsche Telekom to sell its 49 per cent stake.The Slovak Spectator reports there are plans for an external advisor to be brought in to value the state’s minority share in the incumbent.After the sum is revealed, Deutsche Telekom can then decide if it wants to buy. If it declines, the Slovakian government – reports the newspaper – will offer the shares through London’s stock exchange. The whole process should be finished by the end of the year.As part of its ambition to be a pan-European integrated operator – offering fixed and mobile services – Deutsche Telekom recently struck a €800 million deal in neighbouring Czech Republic to buy the remaining 39.23 per cent it doesn’t already own in its T-Mobile subsidiary. Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Operators back Qualcomm role in open RAN path Deutsche Telekom eyes 5G, fibre lead Tags Home Deutsche Telekom close to OTE deal; chance to expand in Slovakia – reports Related Ken Wieland last_img read more

Tiffany Mogenson friends, family start dance scholarship in her honor

first_imgFriends and family of Tiffany Mogenson, the Prairie Village woman killed Oct. 11 in a major car accident at 75th Street and Roe Avenue, have started a dance scholarship in her honor.A talented dancer who performed all her life, Mogenson was the owner of The Pointe dance studio in Blue Springs, Mo., her hometown. She also performed as a member of the University of Missouri’s Golden Girls and as a Chiefs Cheerleader.Jessie Krueger, a close friend who met Mogenson in college, said the fund is a way to honor Mogenson’s passion for dance.“Her motto for her dancers was ‘Dance Like No One is Watching,’” Krueger said. “Soon after the accident, her dancers adopted a new motto, ‘Dance Like Tiffany is Watching,’ and through this fund, we hope that Tiffany’s dream of sharing her passion for dance can live on.”Krueger, who is administering the fund, said proceeds will be used to help younger dancers pay for training opportunities like dance camps and dance conventions.More information about the fund — including instructions for making a donation — can be found here.Roy L. Maney, the man charged with DUI and manslaughter in the accident, had a no-go preliminary hearing in Johnson County District Court this morning.last_img read more