|
|
Article: OTE Announces Approval of RomTelecom Restructuring Plan.
- Article from:
- Business Wire
- Article date:
- December 6, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
ATHENS, Greece--(BUSINESS WIRE)--Dec. 6, 2001
Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full service telecommunications provider, today announced that its Board of Directors has decided to grant RomTelecom a $50 million bridge loan, the terms of which will be agreed upon at a later date, as an initial step in a broad-ranging plan to restructure the Romanian fixed line telecoms operator compiled together with Morgan Stanley.
The Boards of RomTelecom and OTE, as well as RomTelecom's shareholders, OTE and the Romanian Government, have approved a restructuring plan aimed at improving RomTelecom's ...