Q-Telecom snapped up by owners of rival cellco

1 Feb 2006

Apax Partners and Texas Pacific, the owners of Greece’s third largest cellco TIM Hellas, have completed the acquisition of the smallest player in the Greek market, Q-Telecom, for EUR350 million (USD424 million). However, the two cellcos are unlikely to be merged in the near future, with Q-Telecom continuing to exist as an individual operating unit with its existing management structure. The newly acquired company entered the market in 2002 but since then has managed to garner less than a million people in a country with a population of more than eleven million.

At the end of 2005, Cosmote led the way with a 37% subscriber market share compared to Vodafone Greece’s 36%, with TIM Hellas accounting for 19% and Q-Telecom just 8%.

Greece, Wind Hellas (OLD don't use)