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Last Thursday Greek telecommunications workers’ union OME-OTE announced a series of strikes opposing Deutsche Telekom AG, Europe's biggest telecommunications company, plans to acquire a stake and seek management control of OTE, the Greek telecommunications company.

In a statement, the union said it would hold three days of rolling 24-hour strikes before deciding on further strike action. "With the reaffirmation of its standing position that control of OTE must remain in public hands, the board of directors (of OME-OTE) has decided on rolling 24-hour strike action by workers of the group for Wednesday, Thursday and Friday," the statement said.

Earlier last week, Deutsche Telekom AG announced it has agreed to buy a stake of almost 20 percent in Greece's biggest phone company in a $3.9 billion deal and hopes to increase the stake.

The Greek government is currently OTE’s largest shareholder having 28.03% of shares in the company. It has indicated that it would like to sell down its stake in OTE further.