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On Telecoms Assessed At 180 Million

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The value of On Telecoms is estimated at 180 million euro, sources told Capital.gr. The company has been assessed by certified accountants in view of its absorption by Zenon.

 

Based on the report of the certified accountants, Zenons shareholders will enjoy a considerable discount, since On Telecoms will contribute 100% of its shares through a 125 million euro capital stock increase.

 

A 30 million euro cash capital stock increase will follow, for the financing of the new groups moves in the telecommunications sector. Zenon will sell its main activities (robotics) and will absorb On Telecoms activities.

 

On Telecoms started its activities in Greece in 2007 and has 80,000 subscribers. It is one of the few telecommunications operators in Greece with a positive EBITDA.

 

 

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