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, mother Wind Hellas company, the complete packet 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 slightly more than 1 billion euro. The purchase was made within a short period of time, since there had already been relevant consultations and the United Group had previously carried out the control of the financial data of Wind Hellas.
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 the 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.