The DEI Group and Vodafone Greece announce the signing of a non-binding term sheet for the potential creation of a joint venture with equal participation (50-50), resulting from the merger of subsidiaries DEI Fibergrid (100% subsidiary of DEI) and Fiber2All (100% subsidiary of Vodafone Greece) that will operate in providing wholesale fiber-to-the-home (FTTH) network services in Greece. This strategic partnership aims to create a new player in the digital infrastructure market.
With the signing of the non-binding framework of basic terms, the process begins for detailed planning and completion of the agreement. Next steps include necessary checks between the two parties (due diligence), signing binding agreements and obtaining required approvals from competent authorities.
The new company will operate purely as a wholesale provider, offering its services to all telecommunications providers in the market with complete neutrality.
Creating a network of this scale is expected to accelerate adoption of ultra-high speeds, contributing decisively to the digital transformation of the Greek economy and society. The 100% fiber optic network (FTTH) of DEI FiberGrid has now reached 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 DEI FiberGrid and Deputy Managing Director of Digital Services of the DEI Group, stated: “The union of our forces with Vodafone, one of the largest
telecommunications providers on a global scale, aims to create a leading digital network infrastructure in Greece. Through this collaboration, we aim to accelerate implementation of our investment plan and strengthen DEI’s position as a critical infrastructure company and a modern Powertech organization.”
Mr. Achilleas Kanaris, Managing Director of Vodafone Greece, emphasized: “Creating a joint company with DEI constitutes a strategic investment that will substantially accelerate development of our fiber optic network and significantly enhance our ability to offer premium connectivity experience to even more homes and businesses. Vodafone Group’s investment demonstrates practically the strategic importance it attributes 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 achieving national digital coverage goals.”
