Vodafone acquires Greek telecoms firm in £105m deal

Vodafone Group has acquired a telecoms firm in Greece for nine figures.

The company’s Greek business, Vodafone-Panafon Hellenic Telecommunications Company S.A., snapped up CYTA Telecommunications Hellas S.A. for €118m (c.£105.5m).

CYTA Hellas provides fixed and mobile telecommunication services across Greece.

With around 300,000 home and business broadband customers, the firm holds around 8% of the country’s fixed broadband market.

CYTA Hellas also has around 40,000 mobile customers.

According to Vodafone Greece, the acquisition will expand its fixed network, boost its customer base and secure new capabilities and expertise “for the benefit of its customers”.

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