United Group has reached an agreement with Crystal Almond Holdings Limited to acquire Greek telecoms operator Wind Hellas. Wind has a total of 4.2 million users and offers mobile, fixed, internet, and TV services.
It is one of Greece’s three mobile operators and generates revenue of over €500 million a year.
The transaction, is for an undisclosed fee, will enable United Group to combine Wind with its existing Greek pay-TV provider Nova to create a strong converged operator that will be the number two player in both broadband internet and TV services.
Commenting on the development, Nikos Stathopoulos, partner at BC Partners and chairman of United Group, said: “Acquiring and integrating strong local telecom and media businesses onto our platform is a core part of United Group’s European growth strategy. 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 and be a leading force in the digitalisation of the country”.
United Group CEO Victoriya Boklag added: “This deal confirms United Group’s long-term commitment to the Greek market. Wind, with its strong mobile business, has an amazing fit with the media and the fixed-line expertise of Nova and United Group. In Wind, we are buying a successful business that will enable us to strengthen our presence and offering to customers across Greece”.
The transaction is subject to customary regulatory approvals and is expected to be completed in 2022.
