Vodafone-Wind merger will happen, thinks OTE

21 Nov 2011

Dow Jones Newswires quotes the CEO of Greek incumbent telco Hellenic Telecommunications Organisation (OTE), the owner of local cellular market leader Cosmote, as saying that regulatory authorities will sanction the proposed merger of second- and third-placed cellcos Vodafone Greece and Wind Hellas. Michael Tsamaz said that he believed that the merger would be approved, and warned that if not, there was the risk of ‘another bankrupt company’ in debt-ridden Greece. Tsamaz also stated that he approved of the merger, calling it a ‘healthy move’, as he would prefer a less fragmented market with more dominant participants focused on long-term profitability. As reported by CommsUpdate, earlier this month UK-based Vodafone Group confirmed that talks on a potential partnership with fixed line, broadband and mobile operator Wind, which began in August, were ongoing. The merger would create a mobile operator with over 50% of the Greek subscriber market, putting Cosmote into second place.

Greece, Vodafone Greece (incl. Hellas Online), Wind Hellas (incl. Tellas)