Merger of Q-Telecom and TIM Hellas cleared by European regulators

16 Jan 2006

The European Commission announced on Friday that it could find no reason to block the purchase of Greece’s smallest mobile operator Q-Telecom by Apax Partners and Texas Pacific, the owners of the country’s third-placed cellco TIM Hellas. After a lengthy investigation, the Commission concluded that the deal had no negative impact on competition in the country, and, on the contrary, would ‘create a stronger third alternative’ to the two leading operators, Cosmoté and Vodafone Greece.

In October 2005 Q-Telecom’s previous owner Info-Quest accepted an offer for the company from Troy GAC Telecommunications, a holding company led by Apax and Texas Pacific, including EUR325 million in cash and an undertaking to pay a EUR25 million corporate bond.

Greece, Wind Hellas (OLD don't use)