Vodafone confirms Cyta Hellas acquisition

Vodafone announced on Tuesday it had agreed to buy Athens-based Cyta Telecommunications Hellas SA for 118 million euros to expand its fixed line network in Greece.

The purchase will add around 40,000 mobile customers and about 300,000 fixed broadband customers, or roughly 8 percent market share, to Vodafone-Panafon Hellenic Telecommunications Co’s network, the British telecoms group said in a statement.

Cyta Hellas is the Greek unit of Cyprus Telecommunications Authority.

[Reuters]