Mergers and Acquistions News
Categories: Telecoms
September 18th 2009, 16:58PM
Greek fibre optic broadband provider On Telecoms has announced that it has signed an agreement to acquire 100 per cent of the outstanding shares of Vivodi Telecom, also based in Greece.
On Telecom will proceed to a capital increase of €50 million (£45.2 million) in cash that will be fully subscribed by Vivodi's sole shareholders, the Efraimoglou family, who will own 20 per cent of the new entity following the transaction.
"This is the first and [most] important step towards the consolidation of the Telecoms market in Greece," commented Andreas Rialas, chairman of On Telecoms and chief investment officer of the Argo Group.
"On Telecoms intends to take a leading role in the integration of the Telecom and New Media sector with additional transactions and partnerships."
The firm recently agreed the acquisition of NetOne SA and Algonet SA in exchange for new shares of On Telecoms that will be issued for that purpose.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)