Wind Hellas to invest USD108 million in converged network services

13 May 2008

Greek alternative fixed line and broadband operator Tellas (soon to be Wind Hellas), which was recently acquired by Egyptian group Weather Investments, has announced details of a new business plan including short-term investment of EUR70 million (USD108 million) in developing network infrastructure and full-service telecoms packages combining fixed line and mobile telephony and internet access. The Greek firm also told a press conference that a new commercial strategy and package pricing will be unveiled by next month, and indicated that it plans to expand its offerings abroad in the near future. In April 2007 Weather Investments, the holding vehicle of Egyptian telecoms tycoon Naguib Sawiris, completed the purchase of Greek cellco TIM Hellas for a total of EUR3.4 billion, including subsidiary Q-Telecom, before rebranding the company Wind Hellas. Weather (via its Italian-based Wind unit) went on to up its 50% share in Tellas to 100% and has been busy integrating the fixed and mobile units, including the launch of fixed telephony and broadband internet access packages by Wind Hellas last October.