Telenor is one of the six parties interested in Wind Hellas, the Greek operator controlled by Egyptian entrepreneur Naguib Sawiris, The Financial Times writes. Wind Hellas, which could fall into new ownership as part of a debt restructuring, announced a strategic review, and last month the mobile operator said it had received preliminary expressions of interest from several potential investors. Six parties are conducting due diligence and binding offers for Wind Hellas are due by 15 September. Weather Investments, Sawiris' private investment vehicle and Wind Hellas' controlling shareholder, is among those parties that have submitted offers for the mobile operator. Other interested parties in Wind Hellas include Saban Capital, the US private equity firm mainly focused on the media sector, and two Greek companies. A group of Wind Hellas' senior secured bondholders, which include Anchorage Advisors, Angelo Gordon, Eton Park, Mount Kellet and Taconic Capital, are also working on a proposal that could see them take over the mobile operator. People familiar with the situation said Wind Hellas' enterprise value was less than its EUR 1.2 billion of senior secured bonds outstanding. The market is valuing the bonds at between 30 and 40 percent of face value. Wind Hellas also has EUR 355 million of outstanding senior unsecured bonds and a EUR 250 million revolving credit facility.
