Thursday October 23, 2014 Search
Weather | Athens
24o C
14o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
HOL and Cyta likely to merge with bigger telecom players

By Vangelis Mandravelis

The telecommunications market in Greece is abuzz with developments as judgment day looms for some of the industry’s main players. This mainly concerns companies currently operating on a razor’s edge such as Hellas Online (HOL) and Cyta Hellas.

Telecom provider Hellas Online is reported to be very close to a buyout by Vodafone, while Cyta Hellas is expected to start the search for a “white knight” soon. This will be followed by the ultimate clash, between Wind Hellas and Vodafone, for control of Forthnet.

Sources say that Vodafone and its majority stakeholder Intracom Holdings have agreed on a price for the Hellas Online transaction, which will likely be completed via a public bid by Vodafone not only for the majority stake that Intracom Holdings has in HOL (57 percent) but also the minority stakes in the company. Vodafone aims to gain 100 percent control of HOL so as to have it delisted from the Athens stock exchange. That will not be easy, as it requires control of 95 percent of a listed company’s share capital for it to be taken off the Greek bourse.

Cyta Hellas tried on Wednesday to contain the impact of statements made by Christos Patsalides, president of the parent company in Cyprus. Addressing the Cypriot Parliament’s Financial Affairs Committee, the Cyta head said the Greek subsidiary would either be sold, would continue autonomously or be shut down. Patsalides reportedly added that these options would be examined and decisions made in the next 18 months.

In its statement on Wednesday, Cyta Hellas spoke of a commitment in its support by the parent company until at least 2016.

The Greek subsidiary is loss-making, as are most of its competitors, but has a client base of some 300,000 consumers that would constitute a great target for Vodafone and Wind Hellas.

ekathimerini.com , Wednesday April 2, 2014 (23:12)  
Athens weighs its LNG and CNG options
Greece ranks among global leaders in tourism growth
Global oil price drop sends local fuel prices back to 2010 levels
Buy big house, become a citizen
Cyprus seeks EU response over Turkey´s EEZ violation
Cyprus is to raise the issue of Turkey’s violation of its exclusive economic zone (EEZ) at Thursday’s European Council meeting after Turkish Prime Minister Ahmet Davutoglu raised the specter...
Thirteen indicted for inmate torture
Thirteen correctional officers and their former warden will stand trial in Serres, northern Greece, over the death of Albanian inmate Ilie Kareli on March 27 at Nigrita Prison. Kareli was tr...
Inside News
SOCCER
Roberto´s heroics make Kasami´s goal count
Pajtim Kasami’s goal and Roberto’s heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Careful what you wish for
Everyone is in a rush to become prime minister in this country, as if they have not learned a single thing from its political history. While still in opposition, PASOK’s George Papandreou ma...
EDITORIAL
Taking care of our key industry
It’s time to face facts: Tourism is the country’s heavy industry. The sector’s considerable contribution has served as a stabilizing factor for the local economy, essentially placing the cou...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Roberto´s heroics make Kasami´s goal count
2. Athens weighs its LNG and CNG options
3. Greece ranks among global leaders in tourism growth
4. Global oil price drop sends local fuel prices back to 2010 levels
5. Buy big house, become a citizen
6. Cyprus seeks EU response over Turkey´s EEZ violation
more news
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Cyprus to block Turkey's EU talks after EEZ violation
3. EU’s Juncker wins Commission-team approval with investment vow
4. Juncker’s EU commission team set for parliamentary green light
5. Taprantzis resigns from privatization agency TAIPED
6. Fallen tree, smashup cause traffic jams in Athens
Today
This Week
1. Istanbul skyscraper casts shadow over Greece's banking ambitions
2. Coalition shooting itself in the foot
3. Greece’s closed society is central to its current malaise
4. Greece must stick to reforms, says Schaeuble
5. The past, present and future of the Greek debt crisis
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.