The PPC Group and Vodafone Greece announce the signing of a non-binding term sheet regarding the potential establishment of a joint venture with equal ownership (50-50), resulting from the merger of the subsidiaries PPC Fibergrid (a wholly-owned subsidiary of PPC) and Fiber2All (a wholly-owned subsidiary of Vodafone Greece), which will operate in the provision of wholesale fiber-to-the-home (FTTH) network services in Greece. This strategic partnership aims to create a new hub in the digital infrastructure market.
With the signing of the non-binding framework of basic terms, the process for the detailed planning and finalization of the agreement begins. The next steps include the necessary due diligence between the two parties, the signing of binding agreements, and obtaining the required approvals from the relevant authorities.
The new company will operate exclusively as a wholesale provider, offering its services to all telecommunications providers in the market with complete neutrality.
The creation of a network of this scale is expected to accelerate the adoption of ultra-high speeds, contributing decisively to the digital transformation of the Greek economy and society, notes the relevant announcement. PPC FiberGrid’s 100% fiber-optic (FTTH) network now reaches 1.88 million households (homes passed), of which over 1.1 million are already available for immediate connection (ready for service). Vodafone’s FTTH network coverage exceeds 550,000 homes and businesses (available for immediate connection).
Mr. Alexandros Paterakis, Vice President of PPC FiberGrid and Deputy CEO of Digital Services at the PPC Group, stated: “Joining forces with Vodafone, one of the world’s largest telecommunications providers, aims to create a leading digital network infrastructure in Greece. Through this partnership, we aim to accelerate the implementation of our investment plan and strengthen PPC’s position as a critical infrastructure company and a modern Powertech organization.”
Mr. Achilleas Kanaris, CEO of Vodafone Greece, emphasized: “The creation of a joint venture with PPC is a strategic investment that will substantially accelerate the development of our fiber-optic network and significantly enhance our ability to offer a leading connectivity experience to even more homes and businesses.
The Vodafone Group’s investment is a concrete demonstration of the strategic importance it attaches to the Greek market and its ongoing commitment to its development. We will continue to expand our footprint in the country, contributing to the transition from copper to fiber optics and the achievement of national digital coverage goals.”