Company Overview

Hellenic Telecommunications Organization S.A. (OTE), traded in the U.S. as HLTOY, is the largest telecommunications provider in Greece and one of the leading integrated telecom operators in Southeast Europe. The company operates across the telecommunications, information and communications technology, and digital services industries, offering fixed-line, mobile, broadband, pay‑TV, and enterprise solutions. Its core revenue drivers are mobile and fixed telecommunications services, broadband connectivity, and ICT solutions for businesses and public-sector clients.

Founded in 1949 as a state-owned monopoly, OTE was gradually liberalized and privatized starting in the 1990s as Greece opened its telecommunications market. A major strategic milestone occurred when Deutsche Telekom AG became a significant shareholder and strategic partner, ultimately assuming management control. This partnership supported OTE’s transformation into a modern, technology-driven telecom operator with a strong focus on network quality, digitalization, and customer-centric services.

Business Operations

OTE generates revenue primarily through two major operating segments: Domestic Telecommunications (Greece) and International Operations. In Greece, the company provides fixed-line voice, broadband, fiber-to-the-home, mobile telephony, and pay‑TV services under the COSMOTE brand, serving residential, small business, enterprise, and government customers. Mobile services represent a significant portion of revenues, supported by extensive 4G and 5G network coverage.

Internationally, OTE operates mainly through its majority-owned subsidiary Telekom Romania Mobile Communications (historically active in mobile services), though its international footprint has been streamlined in recent years to focus on core markets. The company owns and operates extensive telecommunications infrastructure, including nationwide fiber and mobile networks, data centers, and international connectivity assets, enabling it to deliver both consumer and enterprise-grade digital services.

Strategic Position & Investments

OTE’s strategic direction centers on network leadership, particularly investments in fiber-optic infrastructure and 5G networks, as well as the expansion of digital and ICT services. The company has prioritized capital expenditures toward fiber-to-the-home rollout, next-generation mobile networks, and the modernization of IT systems to support cloud-based and digital offerings.

The group has pursued selective investments and divestments to sharpen its focus on core telecommunications activities. Notable strategic actions include the restructuring and partial exit from certain non-core international operations and continued investment in subsidiaries such as COSMOTE to strengthen brand leadership in Greece. OTE is also active in emerging areas such as cybersecurity services, cloud solutions, and digital platforms for enterprise customers, aligning its portfolio with evolving connectivity and digital transformation demands.

Geographic Footprint

OTE’s primary operational base is Greece, where it maintains its headquarters in Athens and operates nationwide telecommunications infrastructure. The company has a dominant market presence across the Greek mainland and islands, serving both urban and rural regions with fixed and mobile networks.

Beyond Greece, OTE has maintained a presence in Southeast Europe, most notably through operations in Romania, although its international exposure has been reduced over time as part of a strategic refocus. Despite this, OTE retains international influence through cross-border connectivity assets, roaming agreements, and partnerships that support regional and global telecommunications traffic.

Leadership & Governance

OTE operates under a corporate governance framework influenced by both Greek public company requirements and the strategic involvement of Deutsche Telekom AG as a major shareholder. Leadership emphasizes operational excellence, disciplined capital allocation, and long-term infrastructure investment, with a stated focus on digital transformation and sustainable growth.

Key members of the leadership team include:

• Michalis Tsamaz – Chairman of the Board
• Kostas Nebis – Chief Executive Officer
• Mazarakis Dimitris – Chief Financial Officer
• Nektarios Nestoridis – Chief Commercial Officer, Consumer Segment
• Kostas Nounesis – Chief Technology Officer