Greece on Monday agreed to sell a 10 percent stake in Hellenic Telecom (OTE) to Germany's Deutsche Telekom (DTEGn.DE), as the Mediterranean state accelerates privatisation deals to cut its debt pile. The Greek government exercised a put option to sell a 10 percent stake in OTE for around 400 million euros ($585.7 million), Telekom said in a regulatory filing. Once the shares have been transferred as part of the put option, the Greek state will hold 10 percent plus one vote in OTE, with Deutsche Telekom owning 40 percent plus one vote. Deutsche Telekom has spent about 3.8 billion euros since 2008 in amassing a 30 percent stake in southeast Europe's biggest telephony operator to expand its footprint in Greece, Romania, Bulgaria and Albania.
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