By T. Igoumenidi
The last stretch ahead of the sale of telecoms provider Cyta Hellas reportedly features a best offer “on the table” by rival Vodafone.
Cyta’s Cyprus-based parent company commenced efforts last year to sell-off its Greek subsidiary, having accepted binding bids so far by both Vodafone and Wind. The latter comprise two out of the three major telecoms providers in Greece, with Cosmote being the third and largest.
According to media reports out of Cyprus and information gleaned by “N” in Athens, Vodafone’s offer hovers at the 120-million-euro mark.
The two bids were submitted on Dec. 19, 2017 and opened four days later.
Cyta’s board of directors will convene to examine the offers on Monday.
Cyta Hellas began operations in 2008, a year or so before the unprecedented economic crisis battered the country up until the present.
Despite the ominous economic and financial conditions Cyta achieved a client base of roughly 300,000 subscribers and users.
