Deutsche Telekom Focus on OTE Price

"That which we are trying to ensure in the shareholders' agreement, is that there won't be complete freedom of action. That on certain issues, that we think are important, we will protect our interests," he said. "But the day-to-day management will be held by the (CEO) put forward by Deutsche Telekom.""It is logical that someone who invests in a company, and foresees further investments in the future, they want to have complete freedom of action," Alogoskoufis said.

The Greek government says a deal would be good for OTE, bringing synergies and experience to the company, while also shielding OTE from the political meddling the past and future hostile acquisitions.

For Deutsche Telekom, a deal with OTE would help extend the German telecommunications company's footprint in central and eastern Europe, offering access to long-coveted markets such as Romania and Bulgaria.

However, Greece's telecommunication workers' union, OME-OTE, which is opposed to the deal, has announced two nationwide strikes Tuesday and Wednesday and a public demonstration opposing the sale. The union fears the deal will lead to the complete privatization of one of Greece's major companies.