Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today announced that it has been notified by the Greek telecommunications regulator, EETT, of its intention to impose a series of fines on the Greek incumbent telecommunications operator for alleged anti-competitive behavior, mainly related to its position in the Greek broadband market. In aggregate, the fines total euro 27.35 million.
OTE believes that these allegations are without merit, intends to defend itself vigorously and to challenge the imposition of these fines in front of all relevant instances and at the European level.