South-eastern European international service provider United Group has completed its acquisition of Greek telecoms operator Wind Hellas.
United Group has said it will invest at least a further €1.3 billion in Greece over the next five years, focusing on priorities such as expanding its fibre optic network, the rollout of 5G, and pay TV.
To date, United Group has invested €1.4 billion in the Greek market, which it says is among the biggest investments made in Greece in recent years.
Wind Hellas CEO Nassos Zarkalis will step down with immediate effect, but will stay on as advisor to the management board for three months to assist during the transition period.
CFO Haris Kyriakopoulos has been appointed to succeed Zarkalis as CEO. He will be responsible for ensuring Wind Hellas continues to deliver on its commercial and operational performance, while also helping to plan the upcoming combination with Nova.
United Group entered the Greek market in 2020 with the acquisition of Nova and has since rebranded the business and introduced EON TV, the advanced television platform it has deployed across multiple territories.
Wind Hellas adds another 3.4 million revenue generating units to United Group, bringing its total to 15.2 million RGUs, including 4.7 million in Greece.
“The Wind Hellas acquisition is a significant milestone for United Group and the Greek telecommunications market. We’re taking a fresh step in our commitment to bringing Greek consumers a complete assortment of the very best products and services that our industry has to offer,” said United Group CEO Victoriya Boklag.
“The digitalisation and fiberisation of Greece is now in the making. Through the investments we are making and by applying our considerable expertise from across eight markets, we will play a key role on both fronts, delivering amazing products and the best customer experience to Greek consumers and businesses.”
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19 January 2022 @ 14:00:30 UTC