The shareholders of Wind and United Group, which is controlled by the fund BC Partners and recently acquired Forthnet / Nova, have reached an agreement that reshapes the telecommunications market in Greece. 100% of Wind shares will be acquired by United Group, as announced by Wind, a transaction that changes the balance of competition in the Greek market, as the third and fourth players are placed under a common business umbrella and are seen better challenging market leaders Cosmote and Vodafone.
As reported by Business Daily, Wind is once again an attractive acquisition target, as United Group, after the acquisition of Forthnet / Nova, aims to shuffle the telecoms competition deck, initially in an effort to establish itself as a fourth alternative provider in mobile, but also with a plan b for the acquisition of the third market player.
In particular, as announced by WIND Hellas, its parent company Crystal Almond Holdings Limited has reached a final agreement with United Group (UG), a leading telecommunications and media operator in Southeast Europe, for the acquisition of 100% of its shares. "WIND has played an important role in the technological progress of the country, in its 30-year course in the Greek telecommunications market, having invested more than 4 billion euros for the development of leading infrastructure. The last five years have been very successful, with a continuous rise in all economic and operational indicators and the development of new technologies, such as fiber optic networks and 5G that change our daily lives.
I am very proud of what we have achieved as an organization, but mainly for our people and our partners, who daily gain the trust of Greek consumers and businesses, based on our solid values. Now begins a new, exciting era in the history of WIND with its membership in United Group, the largest telecommunications and media group in SE Europe. I am excited about the agreement, which creates all the conditions for faster growth, systematic investments, better services for Greek consumers, prospects for our people," says president & CEO of WIND Hellas, Nasos Zarkalis.
Shareholder acceptance of the takeover proposal submitted by United Group is an important step in the successful course of WIND Hellas and in its vision to be a complete provider of communication services, consistently investing in ultra-high speed networks. and new technologies. The inclusion of WIND Hellas in the business portfolio of United Group significantly strengthens UG's footprint in SE Europe and makes Greece a strategic hub for the further development of the group, constituting the largest market (31%) of the total turnover. The completion of the agreement is expected in 2022, following the relevant approvals by the competent regulatory authorities.
Nikos Stathopoulos, Head of BC Partners and President of United Group, said: “The acquisition and integration of strong domestic telecommunications and media companies into our platform is a key pillar of United Group's European growth strategy. Greece is a key market for us. With the acquisition of Wind we are able to create a leading, holistic provider and contribute to the development of the Greek telecommunications industry, through investments in network infrastructure, content, technology and innovative products and services, being a leading force in digital transformation. of the country."