MARFIN INVESTMENT GROUP (MIG) announces the execution of an agreement with DEUTSCHE TELEKOM AG for the sale of its 98,026,324 shares in OTE at a price of euro 26 per share. The transaction is expected to be completed the latest until the 7th of May 2008 and is subject to the approval of a relevant petition of DEUTSCHE TELEKOM AG by the Interministerial Committee for Privatizations of Greece.
The agreement has been approved by the Board of Directors of MIG and the Management Board of Directors of DEUTSCHE TELEKOM AG but is still subject to the approval of the Supervisory Board of the company.