PPC

After a teleconference between Mitsotakis and Tim Hetges, CEO of Deutsche Telekom, that controls OTE, it was announced that the organization would double the speed of broadband connections to fixed telephony at no additional cost, where of course this is possible.

At the same time, through this route, PPC is called upon to modernize its structures and operation, which are far removed from the European standards of respective companies.

Over a period of five years, ie until the fiscal year 2026, the company forecasts that profits before taxes from 67 million euros to 924 million euros, marking an increase of 1,279.1%.

According to sources, after agreement with CVC Capital, Blackrock and the European Bank for Reconstruction and Development (EBRD) are also seen taking a significant position in the power company.

Limited investments by OTE's competitors in optical fibers allowed OTE management to believe that it would prevail in the era of optical fibers.

The existing shareholders, in the context of the public offering in Greece, will be given the opportunity, as was done in the bank capital increases, to acquire shares that will correspond to their existing stake.

Based on PPC’s announcement, the offer amounted to 2.1 billion euros for 49% of the value of HEDNO (Enterprise Value), including the corresponding (pro-rata) net debt of 0.8 billion euros and refers to a valuation of which amounts to 151% of the Regulated Asset Base.

This will now be followed by checks from PPC on the technical files submitted by the interested parties and then opening of the financial bids. The participants are international investors, with tens of billions of funds under management.

Initial Pricing Thoughts for the bond yield was set between 4% and 4.25 percent, while eventually the high demand pushed the yield to 3.875 percent.