Vodafone Greece and HOL confirm mobile/broadband merger plan

18 May 2009

Cellco Vodafone Greece and broadband provider Hellas On Line (HOL) have confirmed to the Greek stock market that they are in negotiations aimed at combining their respective operations to jointly market mobile, fixed line and DSL services on an exclusive basis. The plan would involve Vodafone Greece acquiring a minority stake in HOL in exchange for its existing DSL operations. HOL is majority owned by Greek ICT group Intracom, with a minority stake held by Luxembourg-based World Equities Investments, which is also involved in the talks. According to TeleGeography’s GlobalComms database, Vodafone Greece partnered HOL in July 2007 to enter the broadband market by launching converged fixed/mobile/broadband service bundles, including ADSL and a Vodafone Home Zone/Office Zone telephony subscription. Vodafone launched standalone ADSL2+ broadband access services in October 2007 over HOL’s unbundled local loop (ULL) network. Intracom/HOL operates the second largest fibre-optic backbone network in the country after former telecoms monopoly OTE, and Intracom also owns a 39% stake in a smaller ULL broadband operator, Athens-based Teledome.

Greece, Hellas Online (HOL), Vodafone Greece