Saturday February 28, 2015 Search
Weather | Athens
11o C
6o 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)  
Greece seeks negotiations on ECB bond repayment
Piraeus plans are coming in next few weeks
Slowdown in tourism bookings from Germany
Economy grew by 1.3 pct in Q4 of last year
Tsipras unveils coalition´s first bills, due next week
Prime Minister Alexis Tsipras set out on Friday his government’s immediate legislative plans, while at the same time insisting he would continue to pursue debt relief and refuse to sign a th...
Berlin clears extension as lenders ramp up pressure
There was strong backing in the German Parliament on Friday for the extension of Greece’s loan agreement but reports suggested that the country’s eurozone partners would continue to keep up ...
Inside News
BASKETBALL
Spanoulis leads Olympiakos to win over Malaga
A good second half was enough for Olympiakos to get the better of Unicaja Malaga (77-72) and score its seventh win in eight games at the second group stage of the Euroleague on Friday. Playi...
SOCCER
Ten-man Olympiakos couldn´t overcome Dnipro
Olympiakos drew 2-2 with Dnipro from Ukraine at home on Thursday, playing almost the entire second half with a man down, to bow out of the Europa League, despite facing an opponent which on ...
Inside Sports
COMMENTARY
A unionist agenda
Maybe Greece will not experience a credit event, “because it is in no one’s interest,” as Minister of State for Coordinating Government Operations Alekos Flambouraris recently assured. Maybe...
EDITORIAL
The beguiling limelight
Too much media exposure is never a good thing and there is no shortage of newcomers in politics who are beguiled by the limelight. What usually comes after this thrall of publicity is the in...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greece seeks negotiations on ECB bond repayment
2. Spanoulis leads Olympiakos to win over Malaga
3. Piraeus plans are coming in next few weeks
4. Slowdown in tourism bookings from Germany
5. Economy grew by 1.3 pct in Q4 of last year
6. Gov’t plans tax on foreign-based funds
more news
Today
This Week
1. A unionist agenda
2. Greece seeks negotiations on ECB bond repayment
3. Tsipras reversal draws Greek sympathy as party rumblings rise
4. Gov't official: bill reinstating ERT, rehiring staff to go to Parlt on March 5
5. German lawmakers approve extension of bailout program for Greece
6. German MPs begin debate on extending Greek bailout program
Today
This Week
1. Time for Alexis Tsipras to keep his nerve
2. Greek bailout deal faces review by euro officials next week
3. Greece says eurozone deal won time as cash bled from banks
4. The ignorance of the West about the culture of Islam
5. Spain said to lead push to hold Greece to terms as Podemos grows
6. A fierce battle looms
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.