End of an era as Cosmote becomes Telekom in Greece

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Greece’s telecommunications landscape is entering a new era as Cosmote completes its transition to the Telekom brand, bringing the company’s 30 year commercial identity to an end.

The change is particularly visible at the iconic OTE building on Kifissias Avenue in Maroussi, where the familiar blue and green branding has been replaced by Deutsche Telekom’s distinctive magenta “T”.

The Telekom branding first appeared on the building in September 2023, but the latest changes mark the completion of the wider rebranding across OTE’s consumer operations.

For many Greeks, the change carries significance beyond corporate branding. OTE has been closely associated with the development of telecommunications in Greece for generations, while Cosmote became one of the country’s most recognisable mobile brands.

From state telecoms giant to Deutsche Telekom subsidiary

A major turning point came in 2008, when OTE was privatised following years of state ownership.

Deutsche Telekom entered OTE’s shareholder structure that year with an initial 25% stake. The Greek state subsequently reduced its holding, while the German telecommunications group gradually increased its position and now holds more than 50%.

The transformation involved extensive restructuring, cost reductions and voluntary redundancy programmes.

OTE has since become one of Deutsche Telekom’s most profitable subsidiaries, with profits reported at around €630 million.

The company says adopting the global Telekom brand will strengthen its international profile and potentially create opportunities for partnerships that would have been more difficult to pursue under the Cosmote name.

The end of a 30 year brand

Cosmote was launched in 1996 after OTE secured a mobile telecommunications licence in 1995.

Greece’s mobile phone market had already begun developing several years earlier. In 1992, the first two mobile licences were awarded to Panafon and Telestet, while OTE was excluded from the initial tender.

The rapid growth of mobile telecommunications soon demonstrated the potential for another operator.

Cosmote began commercial operations in 1998 and quickly established itself as a major force in the Greek market.

Within a few years, it had overtaken its established competitors and become Greece’s largest mobile telecommunications provider.

Cosmote also developed a strong independent identity from OTE and was listed on the Athens Stock Exchange in 2000.

Its independence did not last indefinitely. OTE took full control of Cosmote in 2008, resulting in its delisting from the Athens exchange.

Cosmote became OTE’s unified consumer brand

About a decade later, another major rebranding took place under then CEO Michalis Tsamaz.

Cosmote became the unified commercial identity for OTE’s telecommunications and entertainment products. OTE stores were renamed Cosmote, while OTE TV became Cosmote TV.

The latest transition therefore represents another significant step in the evolution of the group.

The company says employees have broadly welcomed the change. Around 600 staff members reportedly volunteered to appear in videos marking the beginning of the new era.

However, the disappearance of the Cosmote name has also generated an emotional response among employees and consumers who built their careers and associations around the brand.

A different international strategy

The Cosmote brand once had a much broader regional presence through operations in the Balkans.

Over the years, OTE sold its businesses in countries including Albania, Bulgaria and Romania after determining that the operations were no longer sufficiently profitable.

Those divestments gradually reduced the group’s international footprint and reinforced its focus on the Greek market.

The new Telekom identity is intended to reverse some of those limitations by connecting OTE more directly with Deutsche Telekom’s global network.

What changes for customers?

For consumers, the most visible change will be the disappearance of Cosmote branding from stores, services and communications.

The company’s corporate identity will now be aligned with Telekom, while OTE remains the legal and stock market identity of the group.

OTE shares will continue trading on the Athens Stock Exchange under the OTE ticker.

Kostas Nembis will remain chairman and CEO, while the group’s workforce of more than 3,800 employees will largely remain in place.

The company will also continue using the slogan “We connect your world”, providing a link between the new Telekom identity and the company’s previous branding.

For now, the Cosmote name is disappearing from the corporate landscape, but its legacy is likely to remain familiar to Greek consumers for many years.

SEO headline: Cosmote Ends 30 Year Era as Telekom Brand Takes Over in Greece

Meta description: Cosmote has completed its transformation into Telekom in Greece, ending a 30 year brand history and marking a major change for OTE.

Focus keyphrase: Cosmote Telekom rebrand

Excerpt: Cosmote has completed its rebranding as Telekom in Greece, ending a 30 year history for one of the country’s most recognisable telecommunications brands.

Slug: cosmote-telekom-rebrand-greece-30-year-era

Tags: Cosmote, Telekom, OTE, Greece, Greek telecoms, Deutsche Telekom, telecommunications, mobile phones, Greek economy, Greek business, Kostas Nembis, Michalis Tsamaz, Athens Stock Exchange

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