Greece’s Hellas Online has said it is not one of the telcos reported to be in talks with triple-play operator On Telecoms about a possible merger.
Greek newspaper ekathemirini reported today that at least two telcos are eyeing On Telecoms – the…
Greece’s Hellas Online has said it is not one of the telcos reported to be in talks with triple-play operator On Telecoms about a possible merger.
Greek newspaper ekathemirini reported today that at least two telcos are eyeing On Telecoms – the nation’s smallest alternative telecoms supplier – as a possible acquisition target. The paper, which referred to earlier fruitless consolidation talks between Wind Hellas and Forthnet, and also mentioned Hellas Online, did not name sources.
A spokesperson for Hellas Online said the company is not in talks with On Telecoms. On Telecoms, Forthnet and Wind were not immediately available for comment.
On Telecoms, which has about 60,000 internet and fixed telephony customers, would be the “easiest” target for telcos looking to grow their own customer bases, the ekathemirini report stated. The alternative operator’s customer base is worth about €20-€25m, it noted. However, the report added that the companies’ high-borrowing levels may prove problematic, pointing out that On Telecoms has €50m in loans and €95m in other obligations.
OnTelecoms reported a 10% drop in revenues for 2011 to €45.5m. Its negative net position amounted to €23.4m at the end of that year.
