HoL hollers about growth plans

16 Nov 2007

Greek alternative telco and ISP Hellas on Line (HoL) has announced that it plans to turn itself into a public company in early 2008 to help fund an aggressive expansion plan expected to cost EUR800 million (USD1.17 billion). The company, which owns fixed line telcos Attica Telecom and Teledome as well as its own extensive fibre-optic infrastructure, said that it aims to become the leading alternative telco in Greece in the next three years and develop a strong footprint in the Balkan region, via organic growth as well as strategic acquisitions. The company plans to develop a metropolitan and national fibre-optic network of 3,500km to reduce reliance on Greek incumbent OTE. It also aims to take a 25% broadband market share in Greece. In 2007-08 HoL plans to invest around EUR160 million, including EUR70 million to be spent this year. In 2009 HoL expects to earn over EUR200 million in revenues, based on signing up more than 300,000 retail broadband customers, 80,000 triple-play customers, more than 400 large corporate customers and 60,000 SME/SOHO users. The company also announced that a wholesale partnership with cellco Vodafone Greece to sell fixed telephony and broadband connections had so far achieved ‘better than expected’ results. The market capitalisation of HoL is estimated to be around EUR300 million-EUR400 million.

Greece, Hellas Online (HOL), Teledome