Saturday November 29, 2014 Search
Weather | Athens
16o C
10o 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)  
Q3 growth was bigger than thought
Who will pay for the state’s ADMIE stake?
Christmas budgets slashed due to higher taxes, healthcare costs
Finance Ministry inundated with applications for debt settlement
Venizelos extends invite to Turkey at start of visit
Foreign Minister Evangelos Venizelos arrived in Ankara Friday night for two days of talks. Ahead of his visit he sought to make it clear that Greece is prepared to discuss maritime issues wi...
Vatopedi trial for 14 suspects
The Supreme Court decided Friday that 14 people should stand trial for the notorious property swap between the Vatopedi Monastery and the state six years ago. Those who will face charges of ...
Inside News
SOCCER
PAOK is one win from Europa League´s last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
Change of US president won´t mean change of foreign policy
Americans have again voted for change in Washington as opposition Republicans take control of both houses of the US Congress. As attention now turns to the 2016 presidential race, it's time ...
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Venizelos extends invite to Turkey at start of visit
2. Vatopedi trial for 14 suspects
3. New proposals on way to troika
4. Cabbie who carried shooter claims he was threatened
5. Gov´t urged to allow Syrian refugees to move on
6. Man accused by MP denies kickback claims, ND links
more news
Today
This Week
1. Change of US president won't mean change of foreign policy
2. Child molester suspect photo released by police
3. Greek economy expands 0.7 pct q/q in Q3
4. Lebanese FM: Cyprus may be jihadi transit point
5. Athens water supply 9-month profit falls 45 pct on lower charges
6. Armed man arrested on Thessaloniki campus
Today
This Week
1. Give Greece a chance
2. Extremism from a bygone era
3. Scientists expand excavation of ancient Amphipolis
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Cosco’s Greek unit adds multinational rail-freight client
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.