Deutsche Telekom raises stake in Greece's OTE to 45 percent

FRANKFURT (Reuters) - Germany's Deutsche Telekom <DTEGn.DE> said on Wednesday it had paid 284 million euros (248.8 million pounds) for a 5 percent stake in Greek telecoms operator OTE <OTEr.AT>, raising its holding to 45 percent.

The transaction, announced earlier by the Greek privatisation agency, had been expected after a tender attracted no bids and Deutsche Telekom was invited to exercise its right of first refusal to buy the stake.

(Reporting by Douglas Busvine; Editing by Ludwig Burger)