OTE told to pay €130m pension costs

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GREECE - Greek telecom operator Hellenic Telecommunications Organisation (OTE) has said it will have to book a €129.8m ($179m) pensions cost charge to its 2010 accounts following an actuarial study by the Greek government.

The additional cost, estimated by the Greek Ministry of Labour and Social Insurance, is a result of the firm's 2005 to 2008 voluntary retirement programmes. OTE is appealing the calculations, howev...

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