January 23, 2018 / 4:03 PM / a month ago

Vodafone to buy CYTA Hellas for 118 million euros to boost Greek network

(Reuters) - Vodafone (VOD.L) said on Tuesday it had agreed to buy Athens-based CYTA Telecommunications Hellas S.A. for 118 million euros (103.65 million pounds) 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.

    Reporting by Hanna Paul in Bengaluru; editing by Alexander Smith

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