Vodafone group has agreed to acquire a majority stake in Greek leading broadband and fixed-line operator, Hellas Online (HOL) for €72.7m in cash.
The U.K.-based world's second-largest wireless operator by number of subscribers, said that it is acquiring 72.7% of the operator from Intracom Group and World Equities Investments Holdings, adding to the existing 18.4% it already owns in the company, bringing the total stake to 91.2% on completion.
HOL's acquisition will boost Vodafone's position as a leading integrated telecom operator in Greece, and will accelerate its unified communications strategy in Greece, enabling it roll out triple play services and mobile and fixed broadband bundles.
Vodafone expects cost and capex synergies from the exercise, mainly from sharing of network and IT infrastructure, savings on marketing and bill collections activities, and rationalisation of overlapping functions across the two entities.
