Home Economy Nova-Wind’s $2 billion investment in fiber

Nova-Wind’s $2 billion investment in fiber

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Nova-Wind’s $2 billion investment in fiber

Prime Minister Kyriakos Mitsotakis is expected to be announced today about a €2 billion investment in telecommunications infrastructure. The meeting is scheduled for this morning, when the details of the investment will be announced publicly. According with information “K”The investment program under consideration concerns the development of Nova’s own independent fiber-optic network, renamed Nova-Veter.

Thanks to these investments, which will be completed within three years, and in combination with the rest of the reorganization and development steps initiated by the new shareholder of the group, “a strong new pole is being created in the telecommunications market of the country, which will be able to compete with a much stronger position and with a clearly higher claims against Cosmote,” BC Partners sources say. According to the management of the investment fund, the planned investment in a new generation of high-tech infrastructure is the third step in building a strong telecommunications and entertainment group. The first was the acquisition of Forthnet and the second was the acquisition of Wind. Same sources note in “K” that, unlike the usual strategy of investment funds, the investment horizon of BC Partners in Greece is longer-term and is not aimed at reselling the company in the short term. These steps were mandated exactly one year ago in a conversation with Kathimerini Nikos Stathopoulos, when he specified that he would proceed with the immediate integration of Wind Hellas with Nova, making new investments in both content and infrastructure. and equipment, but also in creating new products and services with attractive conditions for subscribers. Recall that in August 2021, the United Group, a group owned by the British investment fund BC Partners, announced the acquisition of Wind Hellas.

Author: Ilias Bellos

Source: Kathimerini

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Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori's writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.

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