Vodafone Greece to transfer its landline customers to Hellas Online in exchange for 18.5% of the company
By Dusan Belic on Saturday, August 8th, 2009 at 7:52 AM PST In Vodafone
Vodafone (NYSE: VOD) Greece wants to focus on mobile service and in that sense, they’ve reached an agreement with local landline operator, Hellas Online Electronic Communications (HOL), to transfer its own landline customer base to HOL, in exchange for an 18.5% stake in the company.
That, however, however doesn’t mean Vodafone will stop offering landline services. Quite the contrary, the only difference is that now the two companies will jointly offer both fixed and mobile line products and services.
For the record, with 215.000 customers (as of June 30th) and a 26% market share, HOL is the fastest growing fixed telephony and internet provider in Greece, and now ranks in the second place of the alternative providers market.
The transaction between the two companies is expected to complete in the fourth quarter, due to regulatory approval and commercial implementation.
[Via: CellularNews]
