AFX News Limited
Greece's Intracom to fully acquire ISP Hellas On Line from Eurobank
08.08.2005, 05:24 AM

ATHENS (AFX) - Technology and defense group Intracom said it has reached a preliminary agreement, pending due diligence and regulatory approval, with EFG Eurobank to fully acquire the third largest ISP in the domestic market, Hellas on Line (HOL), but did not disclose the amount it is paying.

HOL has a 15 pct share of the household segment of the domestic market with 65,000 subscribers, and a further 12 pct share in the corporate market.

Intracom already holds 20.06 pct of the second largest domestic ISP provider Forthnet, which it acquired on August 3, and also announced on Friday that it seeks to further increase its holding in the company to a controlling stake.

Meanwhile, according to newspaper Kathimerini, Intracom is also interested in Attica Telecommunications, a company owned by the Attica Road consortium.

Brokers said the HOL acquisition fits Intracoms stated strategy of a greater involvement in the domestic telecoms landscape and strengthens its position in the internet market.

Last Friday, Intracom closed 2.74 pct higher at 4.50 eur and brokers expect it to maintain its positive momentum today.

Source: Euro2day, Athens

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