Marfin: Telecom tussle

The Greek government needs to stop interfering with its incumbent telephone company OTE. It sold down its stake and wooed private investors. But when a private equity fund called Marfin started building up a big stake, the authorities rushed through an emergency law restricting ownership to less than 20%. This move undermines both shareholder rights and the EU’s single market. Marfin now owns 19,7%. The government has 28%. Marfin is demanding board representation and board approval for two majo...