Greek fixed-line operator Hellas Online (HOL) has announced that it is to merge with its subsidiary Attica Telecommunications.
A HOL spokeswoman told TelecomFinance that the merger was being carried out for cost savings and operational efficiency.
She…
Greek fixed-line operator Hellas Online (HOL) has announced that it is to merge with its subsidiary Attica Telecommunications.
A HOL spokeswoman told TelecomFinance that the merger was being carried out for cost savings and operational efficiency.
She said that the companies had not used any financial or legal advisers for the deal.
The deal is subject to approval from financial authorities, but HOL expects it to close before the end of 2011.
HOL currently provides fixed-line, broadband and IPTV services. Intracom Holdings holds a direct and indirect stake of almost 54% of HOL. Vodafone also holds a 18.5% stake.
