OTE Telecoms on Thursday announced that it has completed the acquisition of 100% of TERNA Fiber, a move directly related to the latter’s Ultra-Fast Broadband (UFBB) planning.
Specifically, OTE last November acquired 100% of GEK TERNA’s subsidiary, the Broadband Infrastructure Projects, which holds 50.1% of TERNA Fiber’s shares. On Thursday, Erga Infrastructures acquired the remaining 49.9% of TERNA Fiber’s shares from Grid Telekom.
The transactions have received the relevant approvals from the project’s contracting authority, according to the company’s announcement.
Contracting parties last November had entered into binding agreements for the acquisition of the special purpose company TERNA Fiber, which has been awarded the “Ultra-Fast Broadband Infrastructure” (UFBB) project.
Under the UFBB, TERNA Fiber has undertaken the development and operation of infrastructure that will ensure ultra-high Internet speeds in four of the seven geographical zones of the project, covering 480,000 households and businesses in semi-urban and rural areas of Greece.
