Vodafone and Public Power Corporation, Greece's incumbent electricity utility, have agreed heads of terms for a proposed equal joint venture to combine their fibre-to-the-home networks in the country.
The deal, if completed, would create a Greece-focused wholesale fibre vehicle covering more than 1.6 million homes on a combined basis.
Under the proposed structure, each party would contribute its respective fibre-to-the-home network and wholesale fibre business to the jointly owned entity, which would supply open-access capacity to internet service providers across the merged footprint
Formation of the joint venture remains conditional on completion of due diligence, agreement on binding transaction documentation, and customary regulatory approvals.
Vodafone cautioned that there is no certainty at this stage that a transaction will be agreed.
The company said it expects to provide a further update in due course.
