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Vodafone wins Greek Cyta tender

January 22, 2018 09.56 Europe/London By Chris Dziadul

Vodafone has won the tender for the acquistion of a 100% stake in Cyta Hellas, the Greek telco owned by the Cyprus Telecommunications Authority.

According to Ekathimerini, a contract for the transaction could be signed as soon as next Sunday, January 28, the date of the presidential elections in Cyprus.

It adds that sources indicate Vodafone bid €117 million for the telco, beating the offer of around €100 million submitted by Wind Hellas. China’s PCCW, another interested party, did not submit a bid in the end.

The Cyprus Telecommunications Authority will exit the Greek market with losses, having invested over €200 million in Cyta Hellas over the last 10 years.

Meanwhile, Vodafone will strengthen its position in the fixed-line sector in Greece, increasing its subscriber total from under 750,000 to close to one million.

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Filed Under: Newsline Tagged With: Cyprus, Cyta Hellas, Greece, Vodafone Edited: 22 January 2018 09:56

About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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