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SATA received funds for the development of telecommunications infrastructure in Cyprus

SATA received funds for the development of telecommunications infrastructure in Cyprus

July 11 2018
Tags: Cyprus, Communications, Economics

Cyprus telecommunications company SATA 10 completed the sale of its Greek company Cyta Hellas on XNUMX July, transferring all shares to the last operator of Vodafone Greece.

This step was the last in a multi-month international tender for the purchase of Cyta Hellas. In this process, SATA was assisted by a number of international consulting firms. The final transaction amount is 118,1 million Euro.

Chairman of the Board of Directors of Suta Ren Ruwitz expressed satisfaction with the company in connection with the sale of Cyta Hellas. Ruwitz noted that now SATA, which has just launched its own fiber-optic network on the island, can use the released resources for other purposes and focus on the development of the telecommunications infrastructure and technological base in Cyprus.

The deal was accompanied by companies such as PricewaterhouseCoopers Business Solutions SA (Greece), Bernitsas (Greece) and Georgiadis & Pelidis LLC (Cyprus).

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