Cyta calls for bidders in sale of Greek unit

Thursday 14 September 2017 | 12:17 CET | News

Cyprus operator Cyta has called for interested bidders in its Greek unit Cyta Hellas. Non-binding expressions of interest can be filed until 27 September. Short-listed bidders will be given the opportunity to carry out due diligence on the company in the second phase of the tender.

Started in 2007, Cyta Hellas offers fixed voice, broadband and IPTV services and in 2014 entered the mobile market. It's estimated to have around 300,000 customers.

Cyta has struggled to turn a profit in Greece due to the difficult economic climate. The company decided last year to put the loss-making unit up for sale in order to concentrate more on its domestic operations. Interested bidders are thought to include Vodafone and Wind Hellas. 


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