Vodafone’s Greek unit has completed the acquisition of CYTA Hellas, the Greek subsidiary of Cypriot telecom operator the Cypus Telecommunications Authority (CYTA) for an enterprise value of €118 million, following approval by telecom and post regulator the Ethniki Epitropi Tilepikoinonion kai Tachydromeion (EETT).
Vodafone had been in competition with Wind Hellas – the alternative Greek telco that recently announced a fibre deployment plan and launched its own TV service in the market – to take over CYTA Hellas.
CYTA Hellas provides fixed and mobile telecom services in Greece via its own fibre network and an MVNO agreement with Vodafone. The company has about 300,000 fixed broadband customers, representing an 8% market share, and about 40,000 mobile customers.
CYTA Hellas offers an add-on TV service. A basic package comprising a mix of international thematic channels such as History Channel, Sundance TV, Disney Channel and others alongside Crete TV and Cytavision Sports is available for €5.39, while an additional adult package comprising Redlight TV, Hustler HD and Private can be purchased for €9.90 a month. Vodafone offers its own TV service in Greece.
Vodafone had initially expanded into the fixed market in Greece through the 2014 acquisition of Hellas Online.