Germanos and Wind strike cooperation deal

Panos Germanos and Wind Hellas reached a cooperation agreement on Wednesday that will initially see the telecommunications firm?s products and services sold at Public and Multirama stores, which the entrepreneur controls.

At a later stage, and definitely by 2016, Germanos, who used to own the Germanos retail chain before selling it to another telecommunications company, Cosmote, will acquire a 10 percent stake in Wind for free.

?This is not a simple trade partnership, but a marriage,? said Wind Hellas?s chief executive officer, Nassos Zarkalis, who added the partnership will be complementary and not a rival to the Wind store network.

The deal will last for 15 years and provides for the exclusive sale of Wind products and services through Public and Multirama stores, the exchange of know-how between the networks of the two companies and the issue of new shares to the businessman.

The Germanos management announced that its new activity will create about 100 jobs and that the group ?has no other expansion plans in the Greek market through acquisitions.?

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