TMCnet News
Greece,United Kingdom : VODAFONE to acquire 78% in HELLAS ONLINE [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Acquiring fixed broadband assets as its once-strong mobile-only model loses its sheen, British wireless carrier Vodafone is continuing its bid to become a wired/mobile operator in Europe. The UK-based telco will acquire nearly 78% in Hellas Online, a Greek landline provider, for 72.7m. The deal estimates the Greek company at 100m and equals an enterprise value of 311m including adjusted net debt of 211m. The firm has around 519,000 customers, an 11% share of the Greek market, which has struggled in the last few years due to the economic crisis in the country. Vodafone already has a mobile unit in Greece which has a track record of partnership with Hellas Online that goes back to 2009, when Vodafone Greece acquired an 18.5% stake in the fixed line operator, in the early days of its action plan to become a converged provider in Europe. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |