Etisalat out of race for TIM Hellas

5 Dec 2006

Emirates Telecommunications Corporation (Etisalat) has decided not to pursue its bid for TIM Hellas, the third largest mobile operator in Greece, the company’s chairman Mohammad Hassan Omran said, giving the reason that ‘it is the third operator and the market in Europe is saturated’. Etisalat submitted a non-binding bid for a controlling stake in the cellco, owned by private equity groups Apax Partners and Texas Pacific, but did not place a binding offer by the 30 November deadline. Turkey’s Turkcell is now thought to be favourite in the auction.

Greece, Etisalat UAE, Wind Hellas (OLD don't use)