Vodafone Greece & PPC Group proposed fibre JV

Vodafone Panafon Hellenic Telecommunications Company SA and Public Power Corporation SA have today entered into heads of terms in relation to the formation of a potential 50:50 joint venture comprising their respective fibre to the home networks and wholesale fibre businesses in Greece. Vodafone Greece and PPC Group’s fibre businesses currently cover more than 1.6 million homes on a combined basis. The JV would intend to provide wholesale open access to internet service providers in Greece.

Formation of the JV is subject to completion of due diligence, agreement on binding transaction documentation and will be subject to customary conditions including regulatory approvals. There is no certainty at this stage that a transaction will be agreed. Vodafone expects to provide a further update in due course.

CT Bureau