Racal Telecommunications Group Plc has beaten British Telecommunications Plc, the Deutsche Bundespost, and Sweden’s Televerket in the bidding to partner the Greek telephone monopoly OTE in building a cellular phone network for Greece. No formal details have been released, but according to the Financial Times, Racal Telecom will hold just under a quarter of the equity in partnership with OTC, 51%, and two Greek companies. The licence is said to run for 25 years, with installation due to start in Athens next year; planned investment is put at $60m.
RACAL TELECOM’s FIRST BIG FOREIGN PACT IS IN GREECE
