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OTE’s Vision for Growth Under New Leadership
The newly appointed president and CEO of the OTE Group, Kostas Nebis, aims to transform the company into one of the most efficient telecommunications providers in Europe. To achieve this goal, Nebis plans to leverage new opportunities while building on the foundations established by OTE over the past years. This includes continuing the investment strategy with a capital expenditure (capex) target of approximately €600 million annually.
Key Development Strategies
In a recent discussion with analysts, Nebis expressed optimism regarding OTE’s growth prospects. He outlined five key drivers for the Group’s development: the expansion of fiber optic connections to homes and businesses (FTTH), the rollout of 5G mobile services, enhancements in television content, advancements in information and communication technology (ICT) projects, and the transformation of the company’s operational model through digitalization.
Price Reduction Agreements
Addressing inquiries, Nebis highlighted significant agreements aimed at reducing wholesale prices by up to 28% for FTTH and sports television content in collaboration with Nova. He emphasized that these initiatives share common traits, as they foster growth opportunities not only for OTE but for the broader market, while also supporting the country’s digitalization efforts.
Innovative Agreements for the Greek Market
Nebis described the agreement with Nova as “innovative” for the Greek market. The wholesale price reduction is designed to incentivize providers to encourage their customers to transition from copper to fiber optics. This agreement is expected to be implemented soon, pending the issuance of the relevant governmental decree. Additionally, contracts with Vodafone and Nova are set to follow shortly.
Enhancing Network Utilization
The new leader emphasized that the objective is to optimize network utilization and effectiveness. He believes that the combination of the wholesale price reductions and demand stimulation vouchers for FTTH will significantly enhance market penetration.
Combating Piracy with Legal Offerings
Nebis also remarked that the agreement with Nova for sports content is groundbreaking for the Greek market, asserting that there is no longer a need for consumers to resort to illegal services when they can access the desired content legally at competitive prices.
Progress on the Romanian Subsidiary Sale
Regarding the sale of the Romanian subsidiary, Nebis noted that potential buyers are in continuous communication with regulatory authorities, indicating that the process is moving forward smoothly.
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