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Vourloumis: CEO of Greek Telecom faces criminal charges

CEO of Hellenic Telecommunications Organization  (OTE), Panagis Vourloumis, 73, will face criminal prosecution on accusations of corruption practices state news agency ANA-MPE reported Friday.

He is accused of ” infidelity and overpriced contracts concluded  in the 2003-2007 period. The contracts were signed with companies like  SIEMENS , ANKO and INTRACOM’.

Under the decree, the price of those contracts was much higher than  the one calculated by the management of OTE.

The degree is the conclusion of  preliminary examination, which started two years ago in response to press reports.

The Greek state has an 20% stake in Hellenic Telecoms and Deutsche Telekom AG (DT) has a 30% holding.

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