Greece's dominant fixed-line operator OTE (OTE) is interested in acquiring the remaining 9% stake in mobile operator Cosmote (I.CMT) held by Norway's Telenor (TELN), a high-ranking OTE official said Monday.
"We are interested, if the price is right and we find the right financial structure to finance the acquisition," the official said.
OTE already owns a 59% stake in the mobile operator. Telenor sold a 9% stake in Cosmote in April, a move that raised some eyebrows as OTE wasn't the buyer.
"To increase our stake in Cosmote would be the ideal way to deal with the fixed-to-mobile substitution as Cosmote is the dominant mobile operator," the official said.
OTE saw its market share narrow to 91% at the end of the first half from 96% at the end of 2002.
Operating revenue from the fixed-line business fell 7.2% in the first half. In the second quarter, moreover, revenue dropped 9.4%.
Revenue from fixed-to-fixed line calls were down 13.7% in the second quarter, while fixed-to-mobile revenue dropped over 20%.
"We are interested, if the price is right and we find the right financial structure to finance the acquisition," the official said.
OTE already owns a 59% stake in the mobile operator. Telenor sold a 9% stake in Cosmote in April, a move that raised some eyebrows as OTE wasn't the buyer.
"To increase our stake in Cosmote would be the ideal way to deal with the fixed-to-mobile substitution as Cosmote is the dominant mobile operator," the official said.
OTE saw its market share narrow to 91% at the end of the first half from 96% at the end of 2002.
Operating revenue from the fixed-line business fell 7.2% in the first half. In the second quarter, moreover, revenue dropped 9.4%.
Revenue from fixed-to-fixed line calls were down 13.7% in the second quarter, while fixed-to-mobile revenue dropped over 20%.
3287.99
1275.09
