- The biggest investment in network infrastructure of the last decades in Greece
- Increase of investments, exceeding €3 bn in total until 2027
- FTTH to 3mn. households and businesses, i.e. to almost 2/3 of the country’s lines
- Free of charge fixed broadband speeds upgrade for COSMOTE customers
- Greek Prime Minister met in Athens with Deutsche Telekom Group CEO, Tim Höttges, Deutsche Telekom Board member Europe, Dominique Leroy and OTE Group CEO, Michael Tsamaz
Greece enters a new era and evolves into a real Digital Country with OTE Group’s key contribution. Through a sharp increase of investments, which will exceed €3 bn. by 2027, OTE Group will deploy the fixed broadband network that will cover the country’s digital needs for the next decades, bringing optical fiber (FTTH) to 3 mn. households and businesses. Furthermore, the Group has reached the strategic decision to upgrade, free of charge, the fixed broadband speeds that COSMOTE customers enjoy, subject to technical eligibility, thus increasing the take-up of high broadband speeds.
OTE Group’s plan for the country’s digital future was presented to the Prime Minister, Kyriakos Mitsotakis and the Minister of State and Digital Governance, Kyriakos Pierrakakis by the Deutsche Telekom Group CEO, Tim Höttges, the Deutsche Telekom Board Member Europe, Dominique Leroy, the Chairman & CEO of OTE Group, Michael Tsamaz and the OTE Group General Counsel - Chief Legal & Regulatory Affairs Officer, Eirini Nikolaidi, during a meeting in Athens, at Maximos Mansion.
The Prime Minister was also informed about OTE Group’s decision to proceed with an investment commitment of up to €3 mn. in Phaistos fund, as part of its full support to the initiative, also demonstrated with the signing of the MoU between COSMOTE and “5G Ventures”.
FTTH: investing in the future
OTE Group’s sharp increase of total investments, set to exceed €3 bn. by 2027, is a game-changer, bringing the FTTH to 3 mn. households and businesses. Carrying this significant project out, OTE Group will cover almost 2/3 of Greece’s lines with Fiber to the Home, living up to the needs of today and tomorrow and creating new prospects for digital growth. Today, OTE Group’s FTTH lines amount to almost 560,000.
OTE Group’s investments will significantly contribute to the success of the Greek Digital Transformation Bible 2020-2025 and the National Broadband Plan 2021-2027, as well as improve the country’s performance in EU Benchmark, DESI.
Milestone initiative: Free of charge upgrade of COSMOTE customers’ fixed speeds
OTE Group made the strategic decision to upgrade free of charge, COSMOTE customers’ fixed broadband speeds in regions where FTTH is not available, subject to technical eligibility. The aim of this initiative is to boost the take-up of high broadband speeds and fully utilize the capabilities of today’s networks by the majority of the population. Upon the Regulators’ (EETT) approval, the free speeds upgrade is expected to begin within Q1 2022 and gradually be completed within the year. The speeds upgrade will also benefit potential/new COSMOTE fixed broadband customers, as COSMOTE will launch new rate plans, upon EETT’s approval.
OTE Group’s initiatives will enhance customer experience and solidify its long-term prospects.
In the frame of the meeting, Greek Prime Minister, Kyriakos Mitsotakis, stated: «Deutsche Telekom Board’s decision constitutes a vote of confidence in the country. It is a vote of confidence in your excellent local team and OTE Group. I also believe that it is a vote of confidence in our policies that boost digitalization at a much faster pace, so that we are pioneers and not laggards on a European level. We have discussed many times the opportunities that Greece offers as a country that can be a leader in digital transformation.
After the pandemic, many people have concluded that Greece is a great place to work from. To make Greece even more attractive, we need good connectivity, with the biggest possible population coverage, at the best possible prices, for us to be competitive in that sector. I think that your decision truly helps us towards that direction.”
During the meeting with the Prime Minister, Tim Höttges noted: “Deutsche Telekom’s investment in Greece is of strategic importance. Especially over the past years, the country has made significant progress in all sectors, proving that it belongs among Europe’s front-runners. Through our strategic plan to accelerate FTTH rollout, we firmly support the vision for the country’s digital transformation and pass a vote of confidence in its growth potential”.
“By investing in FTTH, we invest in Greece’s and Europe’s future. State-of-the-art networks are a prerequisite for businesses to grow, for attracting investments, creating new jobs and radically changing everyday life. Fiber to the Home is indispensable for every country that aims for digital growth and increased competitiveness on an international level. With a game-changing initiative, we realize the biggest investment in network infrastructure of the last decades in Greece empowering the country for the digital era”, stated Dominique Leroy.
The Chairman & CEO of OTE Group, Michael Tsamaz, said: “The OTE Group builds Greece’s digital future. We respond to the actual needs of the State, the society and the market, by deploying today the network that will foster growth for the next decades and by upgrading free of charge our customers’ fixed speeds.” Tsamaz added: “The rapid development of our FTTH network is a big challenge, a complex project of enormous importance for the country. We are not intimidated by this great responsibility. If there is one company that can carry this project through, it’s the OTE Group and its people.”
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