United Group to purchase Greek operator Wind Hellas
United Group has struck a deal to purchase Greek operator Wind Hellas from Crystal Almond Holdings for an undisclosed fee.
Wind Hellas, a provider of mobile, fixed, internet and TV services, has 4.2 million users and generates more than €500 million in revenues annually. Following the acquisition, which is expected to close in 2022 subject to regulatory approvals, United Group plans to combine Wind with its own Greek pay-TV provider Nova to create a number-two player in broadband internet and TV services that can provide strong converged offerings and new technologies.
The deal follows several recent moves by United Group to strengthen its networks and offerings in Greece and other markets in south-eastern Europe, including establishing a new UGI Wholesale business unit to coordinate the group’s wholesale activities and appointing Paolo Ficini as CEO of the division.
The company also just announced a contract with Nokia for the upgrade of its mobile core network to support next-generation services across south-eastern Europe, including enhanced 5G offerings.
“Acquiring and integrating strong local telecom and media businesses onto our platform is a core part of United Group’s European growth strategy,” said Nikos Stathopoulos, chairman of United Group. “Greece is a key market for us and with the acquisition of Wind, we are able to create a leading converged operator and contribute to the development of Greece’s telecoms sector through investments in network infrastructure, content, technology, and innovative products and services.”
Victoriya Boklag (pictured), CEO of United Group, added that Wind has “an amazing fit with the media and fixed-line expertise” of Nova and United Group.