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Germany's Hostile Takeover Of Greece Has Officially Begun

Germany's Deutsche Telekom has just acquired a 10% position in Greece's Hellenic Telecom (OTE) in a deal valued at $585.7 million, according to Reuters. The Greek government will be left with 10% stake in the firm, but Deutsche Telekom will own 40%. The German government owns over 30% of Deutsche Telekom according to 2008 data, so forcing Greece to sell its position in its own national firm seems a little hypocritical.
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