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 BC Partners fund, 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 available information, it is estimated to be just over 1 billion euros. The purchase was made within a short period of time, as relevant consultations already existed and United Group had previously audited Wind Hellas' financial data.
The completion of the agreement is expected in 2022, following the relevant approvals by the competent regulatory authorities. Thus, in 2022, the merger processes 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 and subscription TV.
The United Group operates in 8 countries of SE Europe, already having about 11 million customers, about 14.500 employees and annual revenues of around 2 billion euros.
