11 July 2018
| James Pearce
Vodafone has completed its acquisition of CYTA Hellas in a deal with a total worth of €118 million, boosting its fixed network in Greece.
Earlier this month, the Hellenic Telecommunications &
Post Commission - Ethniki Epitropi Tilepikoinonion kai
Tachydromeion (EETT) greenlit Vodafone Greece’s
acquisition of Cyta Hellas – a telco with around
300,000 broadband and around 40,000 mobile customers.
The deal was announced by Vodafone Group in January of this
year with Vodafone describing the deal as providing further
scale and momentum to Vodafone’s fixed line and
convergence strategy in Greece. Specifically expanding its
fixed network, increasing its customer base and securing
additional capabilities and expertise. The news follows
Vodafone’s 2014 acquisition and integration of
Hellas Online, the MVNO.
Vodafone beat out Greek telco Wind Hellas and its €100
million offer for Cyta Hellas with €117 million.
The decision was made on 28 June and will be made public in
due course, and following approval from the Greek competition
regulator in April and is due to close very soon.
Vodafone said: "Through this acquisition, Vodafone Greece
will expand its fixed network, increase its customer base and
secure additional capabilities and expertise for the benefit of
In related news Wind Hellas announced that it is deploying
its own fibre-optic network, enhancing its existing retail and
wholesale services in several areas throughout Greece as part
of its €500 million plans. The company is now offering its
end-user customers with ultra-fast internet services over its
own deployed fibre-optic network in Greece, which is part of
the Wind Hellas’ five-year investment plan for
next-generation access (NGA) networks, expected to reach a
total of €500 million in infrastructure investments.
mergers and acquisitions