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Altec Tel To Pay OTE Amounts Due Within Next Days

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Altec Telecoms is expected to pay its overdue debt to OTE in the next few days, according to a letter sent by the company to the Hellenic Capital Market Commission.

 

In its letter, Altec says that OTE has cut 85% of the interconnection circuits used by Altec Telecoms. 75% of ADSL interconnections have been interrupted, while 10 backbones and 80% of the AIX have been interrupted.

 

Altec says that its subsidiary, Altec Telecoms will pay its dues to OTE within the next few days, in cooperation with its creditor banks. The company estimates that its interconnection circuits will be reactivated and that there will be a minimal impact on its financial results.

Altec claims that OTEs unilateral move was illegal and abusive and says it will use legal remedies against such practices.

 

 

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