TeleGeography Logo

Six parties submit binding bids for Wind Hellas

20 Sep 2010

Six applicants have submitted binding bids to acquire debt-troubled Greek mobile, fixed and broadband operator Wind Hellas, reports quoting an official close to the deal. The report said that in addition to Egyptian tycoon Naguib Sawiris – the head of Wind Hellas’s current owner Weather Investments who had already confirmed his bid – the parties to have placed offers by last week’s deadline include the telco’s senior secured bondholders and Cayman Islands-based Argo Capital Partners Fund, a shareholder in Greek alternative telco On Telecoms. Bankers have said that Norway’s Telenor had ‘a serious ambition’ concerning Wind Hellas, but a Telenor spokesman declined on Friday to comment, saying it was against company policy. Earlier on Friday, another source told Reuters that Argo Capital had submitted a binding bid independently from Wind Hellas’s bondholders, but added that the fund was keen to cooperate with them at a later stage. ‘If [Argo’s] bid is turned down, [Wind Hellas’] bondholders could look at it as complementary to their own move, if they decide to convert their bonds into shares and become shareholders,’ the unnamed official said. The senior secured bondholders bidding for control of the company reportedly own just over EUR1.20 billion (USD1.57 billion) of bonds and are open to partnership proposals from outside bidders.

Greece, On Telecoms (incl. Vivodi), Wind Hellas

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.