Unnamed bidder offers USD302 million for Q-Telecom

14 Jul 2005

Greek holding company Info-Quest says it has received a non-binding offer of EUR250 million (USD302 million) for its wholly owned subsidiary Q-Telecom. The company has refused to name the interested party – saying only that it is a foreign investment fund – but said that negotiations were ongoing and a sale could be concluded as early as August. Greece’s youngest and smallest telco, Q-Telecom plans to invest around USD25 million in its fixed and wireless services in 2005 as it strives to reach the one million subscriber mark before year-end.