Marfin calls for EGM on governance at OTE (Greece)Marfin Investment Group, the second-largest shareholder in OTE after the Greek state, has called for an EGM at the Greek operator to discuss its corporate governance. In a statement, MIG accused OTE’s management of taking “crucial decisions” on the company’s future without consulting shareholders. It’s calling for the company to provide more information on the decision to sell the directories unit Infote and the financing of the buy-out of mobile subsidiary Cosmote, as well as a general discussion on corporate governance practices. MIG called on the government to assume its responsibilities as lead shareholder, noting that the government had not participated in the decision to buy-out Cosmote and take out the large short-term borrowing for the deal. However MIG stressed its has “no controversy” with the Greek state and would not exercise its voting rights in opposition to the government.
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