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Parliamentary questions
25 June 2008
ORAL QUESTION for Question Time at the part-session in September I 2008 pursuant to Rule 109 of the Rules of Procedure by Dimitrios Papadimoulis to the Commission

 Subject: Sale of the Hellenic Telecommunications Organisation (OTE) and refusal to make a public takeover bid

The Hellenic Parliament has adopted a law ratifying the agreement between OTE and Deutsche Telekom without regard to the provisions of Directive 2004/25/EC(1) concerning the protection of minority shareholders. In refusing to take those provisions into account, the government based its argument on Article 8(g) of Law 3461/2006, which exempts government-owned enterprises which are in the process of privatisation from the takeover bid requirement.

Given that the government owned only 28% of OTE before the agreement, does the Commission consider that OTE was a government enterprise? What is the minimum percentage stake that the government must hold in an enterprise for that enterprise to be considered government-owned? Does the exemption provided by the above law protect the rights of minority shareholders? Are the principles of clarity and transparency respected at Community level in the case of public takeover bids? In the Member States, do the shareholders of companies in which the government has a stake have fewer rights than those of other companies in which the government has no stake?

(1)OJ L 142, 30.4.2004, p. 12.

Original language of question: EL
Ostatnia aktualizacja: 3 lipca 2008Informacja prawna