Only two parties bidding in Wind Hellas restructuring

27 Oct 2009

Only two parties remain in the bidding to take fresh equity stakes in debt-laden Greek mobile, fixed and broadband operator Wind Hellas, which is looking to restructure the EUR3.2 billion it owes lenders. According to Reuters, the company said yesterday that it would continue to talk to the two bidders – its current controlling shareholder Weather Investments and a group of subordinated bondholders represented by Aladdin Capital – and would identify a preferred candidate next week. The subordinated bondholders are owed EUR1.17 billion and say they are willing to back a buyout of the company if an alternative deal undervalued Wind Hellas’s assets. Several previously interested equity groups dropped out of the process.

Greece, Wind Hellas (incl. Tellas)