en.Wedoany.com Reported - PPC Group and Vodafone Greece have announced the signing of a non-binding term sheet, planning to establish a 50:50 joint venture by merging their respective subsidiaries, PPC FiberGrid (a wholly-owned subsidiary of PPC) and Fiber2All (a wholly-owned subsidiary of Vodafone Greece), to provide wholesale Fiber-to-the-Home (FTTH) network services in Greece.
The joint venture will operate as a pure wholesale provider, offering services to all telecom operators in the market on a fully neutral basis. Signing the non-binding term sheet marks the beginning of the detailed design and transaction completion process, with next steps including the completion of necessary due diligence by both parties, signing of binding agreements, and obtaining all required approvals from competent authorities.
Developing a network of this scale is expected to accelerate the adoption of ultra-fast connectivity. PPC FiberGrid's 100% fiber-to-the-home network now covers 1.88 million households (homes passed), of which over 1.1 million are ready for immediate connection (serviceable status). Vodafone Greece's FTTH network currently connects over 550,000 households.
Alexandros Paterakis, Deputy Chairman of PPC FiberGrid and Vice President of Digital Services at PPC Group, stated that joining forces with Vodafone, one of the world's largest telecom providers, aims to build Greece's leading digital network infrastructure. Through this collaboration, they seek to accelerate the implementation of investment plans and further strengthen PPC's position as a key infrastructure company and a modern Powertech organization.
Achilleas Kanaris, CEO of Vodafone Greece, noted that establishing the joint venture with PPC is a strategic investment that will significantly accelerate fiber network development and substantially enhance the ability to deliver a superior connectivity experience to more homes and businesses. He stated that Vodafone Group's investment demonstrates its strategic focus on the Greek market and long-term commitment to its growth, as the company continues to expand its footprint in Greece, supporting the transition from copper to fiber and achieving national digital coverage targets.
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