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Greece’s Tellas sold to Weather Investments October 18, 2007

Posted by grhomeboy in Business & Economy, Telecoms.
Tags: , , ,

Greece’s state electricity utility Public Power Corporation (PPC) said that it has signed the final sale agreement for its 49.99 percent stake of alternative telecom and ISP Tellas to Wind Hellas, a unit of Weather Investments SpA for 175 million euros.

Weather Investments is controlled by Egyptian businessman Naguip Sawiris who also owns the remaining 50.01 percent in Tellas. Sawiris also controls the mobile company Wind in Greece and brokers have said that he was looking at ways to offer comprehensive fixed, mobile and ADSL services in the local market.

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