United Group to acquire Greek telecoms operator Wind Hellas

United Group announced an agreement with Crystal Almond Holdings to acquire Greek operator Wind Hellas. Wind has a total of 4.2 million users and generates annual revenues of more than $588 million from mobile, fixed, internet and TV services.

If approved by regulators, the acquisition will strengthen Greek pay-TV provider Nova, acquired by United last year, making it the number two player in both broadband internet and TV services.

United Group said in a statement that the acquisition would enable it to combine Wind with its existing Greek pay TV provider Nova to create a strong converged operator.

In addition, 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.

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.”

The company also just announced a contract with Nokia for the upgrade of its mobile core network to support next-generation services across south-eastern Europe, including enhanced 5G offerings.

“Acquiring and integrating strong local telecom and media businesses onto our platform is a core part of United Group’s European growth strategy,” said Nikos Stathopoulos, chairman of United Group.

“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,” he said.