South-eastern European service provider United Group has reached an agreement with Crystal Almond Holdings Limited to acquire Greek telecoms operator Wind Hellas.
United Group said that the acquisition would enable it to combine Wind with its existing Greek pay TV provider Nova to create a strong converged operator that will be the number two player in both broadband internet and television services.
The company said that the Greek market had significant potential for growth, and that the Wind-Nova combination would be better able to deliver converged offers, new technologies, and superior service.
The transaction is subject to regulatory approvals and is expected to be completed in 2022.
Netherlands-based United Group, which is active in a number of markets across the region, acquired a 36% stake in Forthnet last June, which it later upped to 80% and consolidated the Greek pay TV outfit.
In March United Group then hired Wind Hellas executive Panayotis Georgiopoulos as CEO of the pay TV company.
Wind Hellas, the number three player in Greece in mobile and fixed, launched its own Android TV-based hybrid TV service, Wind Vision, built and operated by technology outfit Zappware as a turnkey service, in 2018.
Nikos Stathopoulos, partner at BC Partners and chairman of United Group said: “Acquiring and integrating strong local telecom and media businesses onto our platform is a core part of United Group’s European growth strategy. Greece is a key market for us and with the acquisition of Wind, we are able to create a leading converged operator and contribute to the development of Greece’s telecoms sector through investments in network infrastructure, content, technology, and innovative products and services and be a leading force in the digitalisation of the country.”
United Group CEO Victoriya Boklag said: “This deal confirms United Group’s long-term commitment to the Greek market. Wind, with its strong mobile business, has an amazing fit with the media and the fixed-line expertise of Nova and United Group. In Wind, we are buying a successful business that will enable us to strengthen our presence and offering to customers across Greece.”