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Greek Telco OTE Signals Online Betting Move

With the football World Cup beginning today in Russia, Greece’s largest telecoms company OTE has rewritten its corporate charter in a bid to take advantage of online betting and electronic payments.

At an AGM of shareholders on Tuesday, the company's articles of association were amended to include the organisation and conduct of gambling, insurance and e-payments.

OTE, which is 45 percent owned by Deutsche Telekom, employs 20,000 people in Greece, Albania and Romania, but has seen revenues in its telephony and pay-TV markets falter and is under pressure from its German owners to explore new options.

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