UPDATE 1-Restructuring battle hots up for Wind Hellas

* Junior lenders add incentive to proposal

* Late bail-out approach made by Kellner's PPF

* Successful bid needs backing of lenders

(adds detail, background, PPF approach)

By Alex Chambers and Tom Freke

LONDON, Nov 4 (Reuters) - Subordinated lenders of Wind Hellas have sweetened a part of their restructuring proposal as bidders vie to take control of the debt-laden Greek mobile operator.

The subordinated bondholders are battling with the company's owner, Weather Investments, to win the support of senior lenders who will have a big say over which plan is successful.

Wind Hellas said on Oct. 26 that it would name a preferred bidder this week.

Czech investment group PPF Partners, backed by Czech billionaire Petr Kellner and Italy's Generali (GASI.MI), has also made an approach to rescue the company, three sources close to the situation said on Wednesday.