Cyta Hellas to invest a further USD120m by end-2011

25 Nov 2009

Cypriot-owned, Greek-based broadband and telephony operator Cyta Hellas told a press conference yesterday that its investment to date has exceeded EUR65 million and that it will invest a further EUR80 million (USD120 million) in Greece by the end of 2011. The funds are earmarked for nationwide expansion of Cyta Hellas, which currently operates on the island of Crete and in northern regions of the mainland, whilst it is in the process of launching in the Thessaloniki region, with Attica (including Athens) and other large cities set to follow in 2010. Cyta Hellas, which launched commercial services in the fourth quarter of last year, has more than 45,000 active customers on its fixed network, with a target to surpass the 100,000 mark in 2010.

Greece, Cyta Hellas