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ATHENS - Hellenic Telecommunications Organization S.A (OTE), the Greek telecom giant, has completed a series of transactions to repurchase its own shares, the company announced on Monday. Between Monday and Friday of last week, OTE bought back a total of 330,040 shares under its 2025 Own Share Buy Back Programme.
The shares were acquired at varying prices throughout the week, with the average price per share settling at €14.80182. The total expenditure for the buyback amounted to €4,885,193.52. On the first day, OTE acquired 110,514 shares at an average price of €14.59410, and on the final day, it purchased 32,374 shares at an average of €15.25840.
As a result of this buyback, OTE now holds 8,660,958 of its own shares, representing 2.099% of its total outstanding shares. This move is part of the company’s broader capital management strategy and is in compliance with EU regulations, specifically Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
Share buybacks are a common practice among publicly traded companies, allowing them to return value to shareholders and potentially boost the stock price by reducing the number of shares available on the market.
OTE’s announcement follows the regulatory framework set by the European Parliament and the Council, ensuring transparency and adherence to market rules. The company’s investor relations department provided the figures, underscoring OTE’s commitment to keeping its shareholders and the investment community informed.
It is worth noting that this information is based on a press release statement from OTE and has been announced via RNS, the news service of the London Stock Exchange (LON:LSEG).
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