Cyprus telecoms operator Cyta on Tuesday officially announced that it was fielding offers for its Greek subsidiary, either for outright purchases of the company or as part of a merger with current providers in Greece.
Cyprus telecoms operator Cyta on Tuesday officially announced that it was fielding offers for its Greek subsidiary, either for outright purchases of the company or as part of a merger with current providers in Greece.
The Cypriot multinational cited a deadline of Sept. 27 for accepting non-binding expressions of interest.
Cyta was the previous telephony monopoly on the island republic, and is still wholly owned by the Cypriot state, although now operating in a deregulated market. The company retains a dominant position in the island republic's telecoms sector.
Cyta's Greece subsidiary began operation in 2008, accumulating a client base of 300,000 users even amid the unprecedented economic recession plaguing Greece - and Cyprus - since 2009.