Vodafone completes 91.2% acquisition of HOL

26 Nov 2014

Vodafone Group has completed its acquisition of a 72.7% stake in Greek broadband provider Hellas Online (HOL) for a cost of EUR72.7 million (USD90.4 million), increasing its total share capital to 91.2%. The Greek unit of UK-backed Vodafone agreed to acquire the share in August of this year, with the country’s regulator, the National Telecommunications & Post Commission (EETT), approving the proposal in September. According to a Vodafone press release: ‘The transaction values the fully diluted equity of HOL at EUR100 million and is equivalent to an enterprise value of EUR311 million including HOL’s adjusted net debt.’

Greece, Hellas Online (HOL), Vodafone Greece (incl. Hellas Online), Vodafone Group