BUSINESS

Wind Hellas offshoot to offer wholesale fiberoptic services

wind-hellas-offshoot-to-offer-wholesale-fiberoptic-services

Telecom provider Wind Hellas is setting up Hellenic Openfiber, a subsidiary to undertake the design, implementation, maintenance, operation and utilization of the active equipment of the next generation access (NGA) network – the passive equipment (infrastructure and fiberoptics) and the core, distribution and access networks.

This new company will offer wholesale services exclusively to licensed suppliers of electronic communication (Cosmote, Vodafone, Wind and Nova), aiming to accelerate the construction of fiberoptic networks to the cabinet (FTTC) and to the home (FTTH).

Hellenic Optifiber will have a share capital of 69.9 million euros and take on the Wind employees currently working in the sector of fiberoptic networks. The value of the new company’s assets is estimated at €54.3 million.

According to a Deloitte report attached to the split plan, wholesale companies show strong prospects for growth because, among other things, they do not own the conventional networks and therefore focus on intensifying investments in fiberoptics, which is an activity that is attracting long-term investors. This move also reflects the international trend in telecoms and the European Union strategy.