United Group creates the second largest telecommunications group in Greece after the acquisition of Wind. The company already owns Nova, formerly Forthnet.
The company United Group, which is controlled by the fund BC Partners, acquired after an agreement with Crystal Almond Holdings Limited, parent company of Wind Hellas, the full package of its shares. Thus, in addition to Nova (formerly Forethnet), it also owns Wind Hellas, ranking it the second telecommunications provider in Greece, after Cosmote.
The purchase price was not announced but according to the available information, it is probably a little over 1 billion euros. The purchase was made in a short period of time space, since relevant consultations already existed and United Group had previously audited Wind Hellas' financial data.
Completion of the agreement is expected in 2022, following the relevant approvals from the relevant regulatory authorities. Thus, in 2022, the merger procedures between Nova and Wind Hellas are expected to begin, which will result in the creation of a provider that will be the second largest in terms of fixed telephony, fixed broadband connections but also pay-TV.
United Group operates in 8 countries of SE Europe, already having around 11 million customers, about 14.500 employees and annual revenues of around 2 billion euros.
