
	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549			OMB APPROVAL
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5 )*

HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.

(Name of Issuer)

Ordinary shares, of nominal value 2.39 Euros per share

(Title of Class of Securities)

42325950

(CUSIP Number)

The Minister, Ministry of Economy and Finance,
5-7 Nikis Street, 10180 Athens, Greece, Tel #302103332000

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

March 4, 2009 and July 10, 2009

(Date of Event which Requires Filing of this Statement)


	If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-l(e), 240.13d-l(f) or 240.13d-l(g), check the following box. o

	Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

	* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

	The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

		Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

SEC 1746(3-06)


CUSIP No.__________


	1.	Names of Reporting Persons.
		I.R.S. Identification Nos. of above persons (entities only).
		HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A


	2.	Check the Appropriate Box if a Member of a Group (See Instructions)

		(a)


		(b)	x


	3.	SEC Use Only _________________________________________________________


	4.	Source of Funds (See Instructions) N/A


	5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)


	6.	Citizenship or Place of Organization The Hellenic Republic




Number of Shares Bene- ficially by Owned by Each Reporting Person With		7.	Sole Voting Power 102,931,584*


		8.	Shared Voting Power 19,606,015*


		9.	Sole Dispositive Power 102,931,584*


		10.	Shared Dispositive Power 19,606,015*


	11.	Aggregate Amount Beneficially Owned by Each Reporting Person 122,537,599*


	12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)__


	13.	Percent of Class Represented by Amount in Row (11) 25%

	*See however, Item 5.

	14.	Type of Reporting Person (See Instructions)


*Instructions for Cover Page*

(1)	Names and I.R.S. Identification Numbers of Reporting Persons — Furnish the full legal name of each person for whom the report is filed - i.e., each person required to sign the schedule itself - including each member of a group. Do not include the name of a person required to be identified in the report but who is not a reporting person. Reporting persons that are entities are also requested to furnish their I.R.S. identification numbers, although disclosure of such numbers is voluntary, not mandatory (see “SPECIAL INSTRUCTIONS FOR COMPLYING WITH SCHEDULE 13D” below).

(2)	If any of the shares beneficially owned by a reporting person are held as a member of a group and the membership is expressly affirmed, please check row 2(a). If the reporting person disclaims membership in a group or describes a relationship with other persons but does not affirm the existence of a group, please check row 2(b) [unless it is a joint filing pursuant to Rule 13d-1(k)(1) in which case it may not be necessary to check row 2(b)].

(3)	The 3rd row is for SEC internal use; please leave blank.

Item 13D/A

(Amendment No. 5)

Item 1. Security and Issuer

Ordinary shares nominal value €2.39 per share (the “Shares”) of the Hellenic Telecommunications Organization S.A. (“OTE”). The address of the Issuer is 99 Kifissias Avenue, 15181 Athens, Greece, OTE’s Chairman and Managing Director is Mr. Panaglis Vourloumis.

Item 2. Identity and Background:

(a)

Name:

The Hellenic Republic (Ministry of Economy and Finance)

(b)

Address:

5-7, Nikis Street, 10180 Athens, Greece

(c)

The Hellenic Republic

(d-e)

Not applicable

(f)

Citizenship:

Hellenic Republic

Item 3. Source and Amount of Funds or Other Consideration

Not applicable.

Item 4. Purpose of Transaction

This Amendment No. 5 (this “Amendment”) amends and supplements the Schedule 13D/A (Amendment No. 4) filed on November 10, 2008 (“Schedule 13D”) of The Hellenic Republic (“HR”).

As reflected in the Schedule 13D, HR is a party to a Share Purchase Agreement with Deutsche Telekom AG (“DTAG”) dated May 14, 2008 (the “Share Purchase Agreement”), and a Shareholders’ Agreement with DTAG, dated May 14, 2008 (the “Shareholders’ Agreement”). On July 10, 2009, HR notified DTAG of its intent to exercise the first of two put options provided by the Share Purchase Agreement previously described in the Schedule 13D

(the “First Put Option”). Pursuant to the terms of the First Put Option, DTAG will acquire 24,507,519 shares of OTE (the “First Put Shares”) from HR on July 31, 2009 for EUR 27.50 per share for an aggregate amount of EUR 673,956,772.50 to be paid in cash.

HR understands that as a result of the exercise of the First Put Option, DTAG will beneficially own 147,045,118 shares of OTE, representing 30% plus one share of the outstanding share capital of OTE.

The voting and corporate governance arrangements contained in the Shareholders’ Agreement as previously disclosed, remain in effect, unchanged by the exercise of the First Put Option. The board of directors of OTE is currently comprised of ten members, five nominees of DTAG and five nominees of HR, following the resignation of Dr. Martin Walter, one of DTAG’s nominees to the board of directors of OTE. It is anticipated that Mr. Kevin Copp, one of DTAG’s nominees to the board of directors of OTE, will become the Group Chief Financial Officer of OTE on August 1, 2009 and will remain a board member.

On March 4, 2009, HR entered into an agreement with IKA-ETAM (the Agreement), the successor of the main pension fund for OTE employees, TAP-OTE¹, for the transfer to IKA-ETAM of 19,606,015 (the “Transferred Shares”) ordinary shares in OTE owned by HR (the “Transfer”). These shares represent 4 % of OTE’s share capital. The value of the Transferred Shares was calculated at Euro 10.30 per share (the “Transfer Price”), which was the closing price of OTE’s shares at the Athens Exchange on the date of Transfer. The total value of the Transferred Shares amounts to Euro 201.9 million. The Agreement also provides a right to HR to reacquire the Transferred Shares at the closing price at the Athens Exchange on the date of the Transfer, if it so wishes (call option). It also provides an obligation on HR to reacquire the Transferred Shares (put option) should IKA-ETAM need cash to fund pension benefits under the Voluntary Retirement Scheme for OTE employees (“VRS”) at their closing price on the day of the Transfer. IKA-ETAM is obliged under the Agreement to inform HR of its intention to sell all or part of the Transferred Shares to a third party. HR may request to buy within one month from such notice all or part of the Transferred Shares at the Transfer Price. IKA-ETAM may only proceed with the sale of such shares to a third party in the event HR does not wish to reacquire such shares or if the one-month period expires without an expression of interest by HR. In case IKA-ETAM violates such obligation and sells all or part of the Transferred Shares to a third party, a payment equal to ten times the consideration received for such sale is payable to HR. IKA-ETAM is also required to inform HR immediately and in writing should it decide to exercise its pre-emption right in case of OTE’s capital increase. HR may request that IKA-ETAM transfers to it all or part of the shares that IKA-ETAM acquired through

_________________________

1 Pursuant to Law 3655/2008, the pension fund part of TAP-OTE and certain other pension funds merged with IKA-ETAM on August 1, 2008.

such a capital increase. Should IKA-ETAM refuse to transfer the additional OTE shares to HR, it is obliged under the Agreement to pay HR ten times the value it paid for the acquisition of such OTE shares. Finally, the Agreement provides for an obligation of IKA-ETAM to exercise its voting rights in OTE’s general assembly in the same way as HR. Should IKA-ETAM fail to meet this obligation, it is obliged to pay HR the market value of the Transferred Shares on the day of the general assembly, as well as compensation for any damages incurred. The Transfer was made pursuant to the VRS for OTE employees, as approved by European Commission decision of May 10, 2007 (C(2007) 1436 final) “On State Aid No. C 2/2006 (ex N 405/2005) which Greece is planning to implement for the early voluntary retirement scheme of OTE.” The transfer took place in accordance with Articles 74, paragraph 4(a) of L.3371/2005 and Articles 1 and 2, paragraphs 4 and 5 of L.3655/2008. Specifically, in June 2005, OTE and its employees reached a collective agreement on the proposed VRS, which was approved by HR by L.3371/2005. Article 74 paragraph 4(a) of L.3371/2005 provides for the transfer by HR of 4 percent of the share capital of OTE to TAP-OTE (which was succeeded by IKA-ETAM as contribution for the cost of the VRS. Moreover, under the Law, the Minister of Economy and Finance is authorized to sign contracts implementing the transfer and provide for the rights of HR in relation to those share, including the call and put options mentioned above.

HR understands that IKA-ETAM is not a person subject to the reporting requirements under Rule 13d-1 of the Securities Exchange Act of 1934.

Item 5. Interest in Securities of the Issuer.

(a-b) As of the date hereof, HR directly owns 102,931,584 shares of OTE and beneficially owns 19,606,015 shares of OTE held directly by IKA-ETAM which in the aggregate equal 122,537,599 shares of OTE, and represents approximately 25% outstanding shares, based on information contained in OTE’s annual report on Form 20-F for the fiscal year ended on December 31, 2008. Upon completion of the sale and transfer of the First Put Shares to DTAG, HR will own directly 78,424,065 shares of OTE and beneficially own 19,606,015 shares of OTE held directly by IKA-ETAM which in the aggregate equal 98,030,080 shares of OTE and represents approximately 20% plus one share of the total outstanding share capital. Until completion of the sale and transfer of the First Put Shares to DTAG, neither DTAG nor HR may dispose of the First Put Shares (other than in connection with the sale contemplated by the First Put Option). As a result of the provisions of the Shareholders Agreement, DTAG might be deemed also to beneficially own, as defined in Rule 13d-3 promulgated under the U.S. Securities Exchange Act of 1934, as amended, the shares held directly by HR and HR might be deemed to beneficially own the shares held directly by DTAG. HR disclaims beneficial ownership of the shares directly held by DTAG.

(c) Except for the transfer of the Transferred Shares to IKA-ETAM pursuant to the terms of the Agreement and the Exercise of the First Put Option whereby HR will sell and transfer to DTAG the 24,507,519 First Put Shares in exchange for EUR 27.50 per share the transfer of which will close on July 31, 2009, no transactions in shares of OTE by HR were effected since the filing of Amendment No. 4 to the Schedule 13D.

Item 6. Contracts, Arrangements, Understandings on Relationships with Respect to Securities of the Issuer.

See Schedule 13D/A (Amendment No. 4) filed November 10, 2008 and Item 4 above.

Item 7. Material to be Filed as Exhibits.

The Exhibit Index is incorporated herein by reference.

Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

July 17, 2009
	(Date)

/s/ Ioannis Papathanasiou
Minister of Economy and Finance

EXHIBIT INDEX

Exhibit 1: Share Purchase Agreement between the Hellenic Republic and Deutsche Telekom AG dated May 14, 2008*

Exhibit 2: Shareholders’ Agreement between the Hellenic Republic and Deutsche Telekom AG dated May 14, 2008*

Exhibit 3: Exercise of the put option right of the Hellenic Republic dated July 10, 2009 as per the Share Purchase Agreement dated May 14, 2008

Exhibit 4: Acknowledgement by Deutsche Telekom AG dated July 10, 2009 of the Exercise of the put option right of the Hellenic Republic as per the Share Purchase Agreement dated May 14, 2008

Exhibit 5: Translation of the AGREEMENT CONCERNING THE TRANSFER WITHOUT CASH CONSIDERATION OF IMMATERIAL NOMINAL SHARES OF AN INCORPORATED COMPANY dated March 4, 2009.

_______________________

* Previously filed as an Exhibit to the Schedule 13D/A (Amendment No. 3) filed on July 8, 2008.

Exhibit 5

AGREEMENT

CONCERNING THE TRANSFER WITHOUT CASH CONSIDERATION OF
IMMATERIAL NOMINAL SHARES OF AN INCORPORATED COMPANY

In Athens, today Wednesday, March 4, 2009:


	1.	The Hellenic State which is represented for the purpose of signing the present agreement, pursuant to the provisions of article 74 par. 4(a) of L.3371/2005 (Government Gazette 178 A’) and article 1 and 2 par. 4 and 5 of L.3655/2008 (Government Gazette 58 A’), by Mr. Yannis Papathanassiou, Minister of Economy and Finance with seat in Athens, Nikis Street, number 5-7, and V.A.T. number 090166291 (Tax Authority DOY D’ of Athens) (“THE TRANSFEROR”), on the one hand, and

	2.	The legal entity governed by public law with the title “Idryma Koinonikon Asfaliseon - Eniaio Tameio Asfalisis Misthoton” (“IKA-ETAM”), successor of the pension section of the Social Security Fund for OTE Employees (“TAP-OTE”), pursuant to articles 1 and 2 par. 4 and 5 of L.3655/2008, with seat in Athens, Agiou Konstantinou Street, number 8, V.A.T. number 090003373 (Tax Authority DOY KB’ of Athens), and which is represented for the purpose of the present contract by Mr. Theodoros Abatzoglou, governor of IKA-ETAM (“THE ACQUIRER”), on the other hand,

	agree and mutually accept the following:

The “TRANSFEROR” declares that, acting in compliance with the provisions of article 74 par. a of L. 3371/2005 and articles 1, and 2 par. 4 and 5 of L. 3655/2008, in combination with European Commission decision of May 10, 2007 (C 2/2006), holds in its exclusive ownership, demesne and possession 19,606,015 immaterial ordinary nominal shares listed in the Athens Exchange S.A., of the company “Hellenic Telecommunications Organisation S.A.” (“THE COMPANY”). The “TRANSFEROR” transfers by means of a non-stock-market transfer the full ownership, demesne and possession of the aforementioned shares, free from burdens and without consideration, to the “ACQUIRER”, who accepts them.

The value of each transferred share, pursuant to its closing price on the date of signature of the present agreement is Euro 10.30 and the total fair value of the transferred


	[SIGNATURE]	[SIGNATURE]

shares according to this price amounts to Euro 201,941,954.50. These shares represent 4% of the total share capital of the “COMPANY”.

The transfer takes place according to the following specific terms and agreements:


	1.	GENERAL PROVISIONS

	1.1.	The “TRANSFEROR” maintains the right to reacquire all or part of the transferred shares. The “TRANSFEROR” may exercise this right at any moment through a written declaration to the “ACQUIRER”, in which it shall at least mention the number of shares it intends to acquire and the period within which the sale is to take place, in part or entirely. Should the “TRANSFEROR” exercise this right, the “ACQUIRER” undertakes the obligation to enter into one or more agreements with the “TRANSFEROR”, depending on the latter’s proposal.

	1.2.	Should the “ACQUIRER”, on any ground, decide to sell part or all of the shares acquired pursuant to the present agreement, it is obliged to notify in writing the “TRANSFEROR” of its intention. In this case, the “TRANSFEROR” maintains the right to request, within one (1) month, to enter into an agreement for the purchase of part or all of the shares which the “ACQUIRER” intends to transfer. If the “TRANSFEROR” rejects such a possibility, or if the one-month period expires without an expression of interest by the “TRANSFEROR”, the “ACQUIRER” may freely sell these shares.

	1.3.	Exceptionally and exclusively, the “TRANSFEROR” has the obligation to reacquire the shares that the “ACQUIRER” intends to transfer, provided that the latter explains in the written invitation, which it is obliged to address to the “TRANSFEROR” under the present agreement, that it decided to sell these shares for the funding of pensions in the framework of the Voluntary Retirement Scheme for OTE employees, according to article 74 of L. 3371/2005, and it is proven straight away, on the basis of a specific economic analysis, that it is not capable of meeting its obligation to pay the pensions that the employees who are considered to be eligible under this scheme are entitled to receive, and its inability stems from its obligation to fully materialize the specific scheme.


	[SIGNATURE]	[SIGNATURE]


	1.4.	In all of the aforementioned cases (“call option” and/or “put option”), the value of all of the transferred shares shall be calculated on the basis of the closing price of the shares of the “COMPANY” on the date of signature of the present agreement.

	1.5.	Should the “ACQUIRER” transfer the shares to any third party, person or company, contrary to the above agreement, the “ACQUIRER” shall be obliged to pay the “TRANSFEROR” an amount equal to ten times the amount it obtained from the sale of the shares to the third party as penalty and compensation, which the parties consider to be fair and reasonable.

	1.6.	Should the “COMPANY” decide to increase its share capital, and there is a pre-emption right of the existing, at the time of the capital increase, shareholders or the issue of convertible bonds, and should the “ACQUIRER” decide to make use of its right, it is obliged to inform immediately in writing the “TRANSFEROR”, who maintains the possibility to directly request in writing that the “ACQUIRER” transfer to it through a non-stock-market transfer the shares it acquired through the exercise, in full or part, of that right. In this case, the “ACQUIRER” shall be obliged to transfer the additional shares at the price it acquired them, or, alternatively, it shall be obliged to pay the “TRANSFEROR” as form of compensation an amount equal to ten times the price paid for its participation in that capital increase, and the provisions mentioned in the previous paragraph shall be applicable.

	1.7.	The “ACQUIRER” undertakes the obligation to exercise the voting rights stemming from the aforementioned shares in coordination with the “TRANSFEROR”, and, in particular, to instruct its agents to exercise the voting rights at any general assembly of the “COMPANY’”s shareholders pursuant to the way the “TRANSFEROR” exercises its own rights. Otherwise, the “ACQUIRER” shall be obliged to pay the “TRANSFEROR” as penalty an amount that will be equal to the stock-market value


	[SIGNATURE]	[SIGNATURE]


		of the acquired shares on the day of the general assembly of the “COMPANY’”s shareholders, as well as compensation for any damages incurred by the “SELLER” [sic should read “TRANSFEROR”].

	2.	GENERAL PROVISIONS

	2.1.	Any amendment of the present agreement shall be entered into pursuant to the common agreement of the parties and it shall only be proven in writing, and no other means of proof shall be acceptable.

	2.2.	Any notice or notification that relates to the present agreement shall be made in writing and it shall be serviced to the address of each of the parties respectively mentioned in the preamble of the present agreement, except if, prior to any service of documents, one party has notified the other of a change in its address or of its will that service of documents be made in Greece in a different address or to an appointed person. The present agreement regulates the agreed transfer in its entirety and prevails over all other previous relevant arrangements, written communications, settlements, negotiations, discussions — in writing or oral — between the parties, and there are no other guarantees, assurances or agreements between the parties in relation to the present transaction, unless they are mentioned in the present agreement.

3.	TAXES – COSTS

Any potential taxes, costs or third-party rights relating to the aforementioned transfer, as well as the costs for listing the transfer at the Central Securities Depository, shall be borne by the “TRANSFEROR”.


4.	APPLICABLE LAW – DISPUTE RESOLUTION

The present agreement is governed by the Greek Law and it shall be interpreted in light of Greek Law.


	[SIGNATURE]	[SIGNATURE]


5.	FINAL PROVISIONS

The “TRANSFEROR” and the “ACQUIRER”, lawfully represented in the present agreement, declare that they have the full power and right to enter into the present agreement and to fulfill the procedures foreseen by the latter. They have taken all necessary legal actions for the authorization of their representatives for the purpose of signing, executing and fulfilling the present agreement and the acts foreseen by the present agreement. No further consent, approval, authorization, declaration or submission of application to a person is necessary for the valid signature, execution and fulfillment of the present agreement, other than the ones already obtained.

The present agreement has been produced in five (5) identical original documents, two (2) certified original documents shall be received by each of the parties, and the fifth shall be used for listing the agreement at the Central Securities Depository.

THE PARTIES


THE “TRANSFEROR”	THE “ACQUIRER”

ON BEHALF OF THE HELLENIC STATE	ON BEHALF OF IKA-ETAM

THE MINISTER OF ECONOMY	ITS GOVERNOR

AND FINANCE

[SIGNATURE]	[SIGNATURE]

IOANNIS PAPATHANASIOU	THEODOROS ABATZOGLOU


		Deutsche Telekom AG, Service Headquarters Postfach 2000, 53105 Bonn, Germany

		Ministry of Economy and Finance General Accounting Office Directorate 25th - Department C’ 37 Panepistimiou Str. Athens 10165 Greece

		Attention of: Director via fax: 0030 210 333 8959

Your reference
Our contact		Kevin Copp, Senior Vice President Mergers & Acquisitions
Phone		+49 228 181 85000, Fax +49 228 181 85111
Date		July 10, 2009
Re		RE: Hellenic Telecommunications Organisation S.A. (“OTE”)

		Dear Sirs,


		Deutsche Telekom AG
Address		Service Headquarters, Friedrich-Ebert-Allee 140 53113 Bonn, Germany
Postal address		Postfach 2000, 53105 Bonn, Germany
Contacts		Phone +49228 181-0, Fax +49228 181-71915, Internet www.telekom.com
Bank account		Postbank Saarbrucken (bank code 590 100 66), account no. 166 095 662
		IBAN: DE0959010066 166095662, SWIFT-BIC: PBNKDEFF690
Supervisory Board		Prof. Dr. Ulrich Lehner (Chairman)
Board of Management		René Obermann (Chairman),
		Hamid Akhavan, Dr. Manfred Balz, Reinhard Clemens, Niek Jan van Damme,
		Timotheus Höttges, Guido Kerkhoff, Thomas Sattelberger
Commercial register		Amtsgericht Bonn HRB 6794, registered office Bonn
		VAT Ident. no. DE 123475223, WEEE reg. no. DE50478375


		1.	Reference is made to the Share Purchase Agreement between the Hellenic Republic and Deutsche Telekom AG (jointly with the HR the *“Parties”), dated 14^th May, 2008 (“Agreement”*) and ratified by Law 3676/2007.

		2.	Unless The context otherwise requires, capitalised terms used herein and defined in the Agreement shall have the same meaning when used herein.

		3.	We hereby acknowledge safe receipt of HR’s irrevocable Put Option 1 Exercise Notice, dated 10^th of July, 2009 (*“Received Notice”*).

		4.	We further kindly confirm our agreement on the exact number of the Put Option 1 Shares, referred to in the Received Notice, namely 24,507,519 OTE Shares, representing 5% of the OTE Shares, and the corresponding calculations, namely the amount of €673,956,772.50.


		5.	Please note that DTAG’s broker for the purposes of the sale and transfer of the Put Option 1 Shares by way of a block trade (as per articles 2.3.8 et seq. of the ATHEX Regulation) shall be Goldman Sachs International.

		6.	Finally, we confirm that we will provide our full collaboration for the completion and effectuation of the sale and transfer of the Put Option 1 Shares, as per the Agreement.