On Telecoms-Vivodi deal ‘nearly complete’

11 Sep 2009

The proposed merger of Greek triple-play operators On Telecoms and Vivodi Telecom is close to completion, officials at both companies have told Capital.gr. On Telecoms board member Karolos Gikas said that there are ‘just a few details ahead of the announcement of the deal’, which would create a provider with over 150,000 broadband subscribers on unbundled local loop (ULL) connections. The new venture would retain the On Telecoms name and be 80%-owned by On shareholders, with the other 20% held by Vivodi’s controlling Efraimoglou family. Creditor banks have reportedly already given the all-clear to the deal. In the first half of this year, On Telecoms had a turnover of EUR42.5 million (USD61.9 million), compared to Vivodi’s sales of EUR36.4 million.

Greece, On Telecoms (incl. Vivodi), Vivodi Telecom