OTE Sells Macedonia Mobile Unit

Greece's dominant phone company, Hellenic Telecommunications Organization SA (OTE), said Monday that it has sold its mobile and retail operations in Macedonia to Telekom Slovenije for EUR 190 Рњ, Dow Jones reported.

The unit, Cosmofon, is one of the largest mobile providers in Macedonia, with a 30% market share.

Last year Deutsche Telekom AG, Europe's biggest telephone company, acquired a 25% stake in OTE, which owns the second-biggest Bulgarian mobile operator Globul.

Combined, the two companies controlled more than 90% of the mobile market so as a result of that tie-up, Macedonia's competition comission have forced OTE to sell its Cosmofon unit.

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