REFILE-Greece not planning on buying OTE shares-minister

(Corrects typographical error in headline)

ATHENS, Nov 4 (Reuters) - Greece's new government has no plans to buy shares in OTE (OTEr.AT: Quote, Profile, Research), the nation's biggest telecoms company, to match the 30 percent holding of Deutsche Telekom (DTEGn.DE: Quote, Profile, Research), a minister said on Wednesday.

Greece's socialist PASOK party, which won elections on Oct. 4, had said before the vote that it would seek to increase the government's influence in OTE's management, sparking speculation that it might want to increase its stake.

But Greece's poor finances prevent the government, which currently has a 20 percent stake, from such a move, Deputy Infrastructure Minister Nikos Sifounakis said in a radio interview.

"As things stand today it would be absurd for the Greek government to regard this as a priority," Sifounakis said according to a transcript sent by the ministry.

"We can't earmark in the budget, at least for 2010, money for Greece to purchase at least 5 percent," he said.

According to EU Commission estimates, Greece will have the European Union's biggest budget deficit this year, at 12.7 percent of gross domestic product.

Deutsche Telekom spent nearly 4 billion euros ($5.90 billion) last year on buying a 30 percent stake in the former state-run company, under a complicated deal with Greece's previous, conservative administration. ($1=.6782 euros) (Reporting by Harry Papachristou; Editing by Greg Mahlich)