Weather Report: Greek M&A
What in crikey blazes are we talking about?
Well, Weather Investments, the holding company controlled by serial telecom entrepreneur Naguib Sawiris, is using its main European asset, Wind Telecomunicazioni SpA , to create a fully-owned fixed and mobile operator in Greece, a country with increasing levels of network and services development. (See Motive Wins Greek Deal, On Telecoms Uses Italtel, Keep On Keepin' ON, and Ericsson Wires Up Greek City.)
And it's doing that through acquisitions.
Earlier this year, Weather acquired Greece's number three mobile operator, TIM Hellas, and renamed it Wind Hellas. (See Weather Buys TIM Hellas.)
Now Weather is buying the near 50 percent of voice and broadband service provider Tellas SA that Wind Telecom didn't already own for €175 million ($249 million) from Greek utility firm Public Power Corp. (See PPC Sells Tellas.)
The plan is to combine the mobile operator and ISP to offer bundled fixed and mobile services, making it a stronger rival to incumbent OTE S.A. .
Greece has some catching up to do in terms of metrics such as broadband penetration –- the increasing involvement of proactive players such as Sawiris can only be positive for the market's development.
— Ray Le Maistre, Meteorological Editor, Light Reading