On Telecoms equity structure changes

12 Oct 2009

According to Capital.gr, a newly created fund, Mediterranean Telecom & Technology Investments (MT&T) has acquired around 16% of Greek alternative telco On Telecoms, by acquiring stakes from the firm’s founding shareholders and an executive vice president, Pericles Katsioulas, for around EUR25 million (USD37 million). MT&T reportedly involves a number of domestic, foreign and private investors and companies operating in the telecoms area and is represented by George Stathopoulos, a former member of Greece’s Intracom group. On Telecoms is aiming to speed up the process of absorbing smaller fellow Greek telco Vivodi Telecom. Following an increase in capital, the largest shareholder of On Telecoms will remain as the Cyprus Argo Capital Fund, while the Efraimoglou family – Vivodi’s controlling shareholder – will acquire 20%.

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