INTRACOM S.A. HOLDINGS
Vodafone Greece and Hellas Online form a strategic partnership
Further to the announcement on 13 May 2009, Vodafone-Panafon Hellenic Telecommunications Company S.A. (Vodafone Greece) and Intracom Holdings S.A., announce that exclusive negotiations launched for the purpose of exploring the possibility of a partnership between Vodafone and Hellas Online Electronic Communications S.A. (HOL), have been finalized and that the two companies are entering a strategic partnership.
Vodafone Greece will acquire a minority equity participation of 18.5% in HOL and in exchange Vodafone Greece will contribute its existing fixed line DSL assets into HOL΄s business. Vodafone Greece and HOL will jointly and exclusively offer in the Greek market mobile and fixed line products and services, and broadband iservices.
Vodafone is the world's leading international mobile communications group with approximately 315 million proportionate customers as at 30 June 2009. Vodafone currently has equity interests in 31 countries across five continents and around 40 partner networks worldwide.
HOL, the fastest growing fixed telephony and internet provider in Greece, with 215.000 customers (as of 30 June 2009) and a 26% market share, now ranks in the second place of the alternative providers market. Having invested more than ? 218 million in privately owned fiber optic network and cutting edge technology since 2006, HOL has the largest fiber optic network in Greece, among the alternative providers, spanning more than 3.800 km and covering 75% of the population. This agreement will allow the two companies to improve even further their customer service and increase their market share resulting from joint products and services. Due to regulatory approval and commercial implementation, the transaction is not expected to complete until the fourth quarter of this year.
"The positive outcome of these negotiations is a very significant step towards Vodafone's strategic goal to offer integrated telecommunications services, something that also constitutes part of the Vodafone Group strategy. Now our customers will be able to enjoy mobile and fixed telephony products and services, as well as, internet services via one of the most developed networks in Greece", stated Vodafone Greece Chairman of the Board of Directors and Chief Executive, Mr. Nikos Sophocleous.
"Hellas Online, with the largest fiber optic network in Greece, has achieved in the last semester around half of the new connections in the total LLU market. Our partnership with Vodafone Greece, member of the world leader in mobile communications, will boost even further Hellas Online products and services and is expected to generate the largest possible synergies for both companies", stated Intracom Holdings Group Chairman of the Board of Directors, as well as, Hellas Online Chairman of the Board of Directors, Mr. Sokratis Kokkalis.
Vodafone Greece will acquire a minority equity participation of 18.5% in HOL and in exchange Vodafone Greece will contribute its existing fixed line DSL assets into HOL΄s business. Vodafone Greece and HOL will jointly and exclusively offer in the Greek market mobile and fixed line products and services, and broadband iservices.
Vodafone is the world's leading international mobile communications group with approximately 315 million proportionate customers as at 30 June 2009. Vodafone currently has equity interests in 31 countries across five continents and around 40 partner networks worldwide.
HOL, the fastest growing fixed telephony and internet provider in Greece, with 215.000 customers (as of 30 June 2009) and a 26% market share, now ranks in the second place of the alternative providers market. Having invested more than ? 218 million in privately owned fiber optic network and cutting edge technology since 2006, HOL has the largest fiber optic network in Greece, among the alternative providers, spanning more than 3.800 km and covering 75% of the population. This agreement will allow the two companies to improve even further their customer service and increase their market share resulting from joint products and services. Due to regulatory approval and commercial implementation, the transaction is not expected to complete until the fourth quarter of this year.
"The positive outcome of these negotiations is a very significant step towards Vodafone's strategic goal to offer integrated telecommunications services, something that also constitutes part of the Vodafone Group strategy. Now our customers will be able to enjoy mobile and fixed telephony products and services, as well as, internet services via one of the most developed networks in Greece", stated Vodafone Greece Chairman of the Board of Directors and Chief Executive, Mr. Nikos Sophocleous.
"Hellas Online, with the largest fiber optic network in Greece, has achieved in the last semester around half of the new connections in the total LLU market. Our partnership with Vodafone Greece, member of the world leader in mobile communications, will boost even further Hellas Online products and services and is expected to generate the largest possible synergies for both companies", stated Intracom Holdings Group Chairman of the Board of Directors, as well as, Hellas Online Chairman of the Board of Directors, Mr. Sokratis Kokkalis.