(BRUSSELS) - The European Commission gave the green light on Thursday to Deutsche Telekom's plans to take a blocking minority in Greek telecommunications operator OTE.

"The commission concluded that the transaction would not significantly impede effective competition," Europe's top anti-trust watchdog said in a statement.

Under the deal, the Greek government, which has a 28-percent stake in OTE, is expected to sell a three-percent share to Deutsche Telekom for 442.3 million euros (611 million dollars).

Deutsche Telekom, which already has a 20 percent stake in OTE, is also expected to acquire a two percent interest in the group through the stock market.

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