Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces today that it finalized the sale of INFOTE, its classified directory information subsidiary. OTE transferred the ownership of 100% of INFOTE to Rhone Capital LLC and Zarkona Trading Limited and collected the total proceeds which stand at euros 300 million. The total value of the transaction corresponds to more than fourteen times the estimated 2007 Operating Income before Depreciation and Amortization of INFOTE.
UBS Investment Bank acted as financial adviser to OTE.