Sponsored by
Vodafone drops deal with Greeks
Vodafone has abandoned plans to merge its operations in Greece with Wind Hellas, in a blow to the debt-laden Greek operator and throwing into doubt consolidation elsewhere in Europe.
Vittorio Colao, chief executive of Vodafone, had warned that the world’s largest operator by revenue needed to change the dynamic in Greece if it were to continue to invest in the country, but yesterday’s announcement will prove more serious for Wind in the short term.
The third-biggest Greek telecoms operator is owned by its bondholders and needed a deal to better compete in a market that has been hit by extreme pressures on consumer spending. It could still reach a network-sharing deal with Vodafone, which is due to give a trading update on Thursday.
Email to a friend
Print this page- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Friday 25 May 2012
Today
Sunny spells
Temperature: 9 C to 20 C
Wind Speed: 15 mph
Wind direction: East
Tomorrow
Sunny
Temperature: 8 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Your view
Please sign in to be able to comment on this story.