Wednesday, 13 May 2009
Vodafone-Panafon Hellenic Telecommunications Company S.A. ("Vodafone"), and Hellas Online Electronic Communications S.A. ("HOL"), Intracom Holdings S.A. and World Equities Investments S.A. announce that they have entered into exclusive negotiations for the purpose of exploring the possibility of entering into a transaction (the "Transaction") which shall involve Vodafone becoming a strategic partner of HOL by acquiring a minority equity participation therein in exchange for contributing its existing fixed line DSL assets. Vodafone and HOL will combine their respective offerings in the Greek market and jointly market Vodafone's mobile products and services and HOL's fixed line DSL and telephony services on an exclusive basis.
As the exclusive negotiations in respect of the Transaction are in an early stage, it is uncertain whether they will lead to the consummation of a Transaction.
The parties will inform the investors of the outcome of their negotiations in accordance with the applicable legal and regulatory requirements.