Can you think of a more hated and depressing investment than a Greek telecom?
Seriously. I suppose there's Russia. That's a market that investors have really left for dead. But the world still hasn't completely embraced the Greek market yet, at least not the way they were before the bust.
It doesn't seem that Hellenic Telecom's (OTCPK:HLTOY) marketing department got that memo, however. Check out this gem from their 2012 annual report:
Their financial reports might be in Greek, but I don't have to speak the language to know what that means.
Seriously, though. This is a $4.5 billion company. Hellenic Telecom is not just the formerly-state-owned borderline-monopoly telecom provider in Greece,...
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