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Vodafone Acquires Controlling Share of Hellas Online

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A controlling share of Hellas Online has been purchased by Vodafone, who is one of the nation's largest fixed-line phone and broadband platforms.

The 72.7 million euro sale is being conducted by Vodafone Greece, for a 72.7% holding acquirement. The Hellenic company already owns 18.5% of Hellas Online, and made its first investment back in 2009.

Hellas Online serves about 11% of the Greek market, which amounts to approximately 519,000 subscribers. Vodafone is purchasing the share from World Equities Investments Holdings and Intracom Group.

The leading telecommunications firm stated of the transaction, "creates a leading integrated telecom operator in Greece with the number two market position by revenues in both fixed-line and mobile communications".