Greek telecoms operator OTE Group said on Friday it repurchased 262,106 of its own shares for €5.2 million, as part of a broader capital management initiative.
The buyback was executed through the Athens Exchange, with the transaction conducted at market prices. OTE did not disclose further details regarding the timing or pricing of the repurchase.
The move reduces the company’s free float, a common strategy to enhance shareholder value by signaling confidence in its financial position and capital allocation. OTE, majority-owned by Deutsche Telekom, operates in Greece and Romania under brands including Cosmote and Telekom Romania Mobile.
Share buybacks are typically viewed as a tool to return capital to shareholders or support stock valuations during periods of market volatility. OTE has not provided additional context on whether this buyback is part of a larger program or a one-off transaction.
