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ATHENS - Hellenic Telecommunications Organization S.A (OTE), Greece’s leading telecom operator, has completed a buyback of its own shares, the company announced on Monday. The purchase, which took place over four days from Tuesday to Friday last week, is part of OTE’s Own Share Buy Back Programme for 2025.
The company acquired a total of 92,467 shares, spending approximately €1.46 million. The average price paid per share over the buyback period was €15.81198, with individual transactions ranging from €15.48 to €16.73 per share.
Following the completion of the buyback, OTE now holds 8,815,046 of its own shares, which represents about 2.136% of its total outstanding shares. The move is in line with the EU Market Abuse Regulation and the Commission Delegated Regulation concerning the conditions applicable to buyback programs.
The share buyback initiative is a common corporate action where a company purchases its own outstanding shares from the market, which can reduce the number of shares available and potentially increase the value of remaining shares.
The announcement was made in accordance with financial regulations set forth by the European Parliament and the Council, as well as the Commission Delegated Regulation.
This strategic financial maneuver is part of OTE’s broader capital management program and reflects the company’s commitment to efficiently deploying its capital for the benefit of its shareholders.
The information regarding the share buyback was based on a press release statement provided by the company.
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