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Altec Signs Deal With Creditor Banks

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Altec and its main creditors (NBG, Piraeus Bank and Eurobank) have signed a final deal, sources said.

Sources said that the plan calls for

* a 18 million euro loan under the guarantee f Mr Athanassoulis,

* the suspension of payment of liabilities until the end of February 2009 and

* drafting a study on the impact of Altec Telecoms image on the group.

These late developments partly explain Altecs spectacular 26.53% gains today.

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