January 23, 2018 / 4:03 PM / 8 months 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 Vodafone logo can be seen on top of a building outside Madrid, Spain, April 13, 2016. REUTERS/Andrea Comas

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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