Αthens, December 21, 2007 The Hellenic Telecommunications Organization SA (OTE SA), announces that, following discussions between the management of OTE and representatives of Marfin Investment Group (MIG), it was agreed that it is in the best interest of the company, its shareholders and its employees, to refrain from convening the Extraordinary General Meeting requested by MIG.
OTE's Board of Directors decided to set-up a committee consisting of three of its members, mssrs I. Georganas, P. Tambourlos and T. Veniamis, that will oversee the negotiations for the terms of the long term financing relating to the Cosmote minorities buyout.
The Chairman of the Board of OTE stated that logic and common sense have prevailed, since OTE needs to focus undisturbed on its objective, the continuous improvement of the company to the benefit of all shareholders.