Mergers and Acquistions News
Categories: Telecoms
May 21st 2009, 16:50PM
Vodafone-Panafon Hellenic Telecommunications Company has confirmed that it has entered into exclusive negotiations to acquire a minority stake in Greek broadband provider Hellas Online (HOL).
The mobile telecoms provider is discussing the acquisition with technology group Intracom Holdings SA, which provides telecoms solutions and products and World Equities Investments SA.
All companies involved in the negotiations are based in Greece, where Intracom currently owns 63 per cent of HOL and World Equities owns 25 per cent.
Vodafone-Panafon has announced that as part of the transaction it will transfer its existing fixed-line DSL assets to HOL in exchange for the minority stake.
The announcement follows news that Hutchison Telecommunications in Australian is waiting to see whether the local competition regulator ACCC will rule in favour of its proposed merger with Vodafone's Australian arm.
ACCC is due to announce its ruling by May 29th, after it has investigated some issues regarding the deal.
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