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Telenor ‘may tender bid’ for Wind Hellas
09 September 2010
Norwegian operator Telenor is one of those expected to bid for Greek operator Wind Hellas next week
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Telenor
Wind Hellas
Orascom
Sawiris
Greece
Norway
Egypt
Telenor is interested in acquiring Wind Hellas, the Greek mobile phone operator controlled by Egyptian entrepreneur Naguib Sawiris, according to reports.
The Norwegian telecom company is one of six companies interested in Wind Hellas, which may be sold as part of a debt restructuring effort. Wind Hellas has €355 million of outstanding senior unsecured bonds and a €250 million revolving credit facility.
The potential buyers are carrying out due diligence and binding offers for Wind Hellas are due September 15.
Weather Investments, Sawiris’s private investment unit and Wind Hellas’s controlling shareholder, has submitted a non-binding offer for the mobile operator. The other interested parties include Saban Capital, a US private equity firm mainly focused on the media sector, and two Greek companies.
A consortium of Wind Hellas’s senior secured bondholders, including Anchorage Advisors, Angelo Gordon, Eton Park, Mount Kellet and Taconic Capital, are also working on a proposal. GTB