On Telecoms targeted for takeover, paper says

Struggling Greek triple-play telco On Telecoms is being targeted for acquisition by two larger alternative operators in the country, according to local newspaper Kathimerini, without naming specific companies. The fixed broadband, telephony and IPTV provider’s most recently published annual results showed a 10% decline in revenues to EUR43.5 million (USD58.0 million) in 2011, and net losses of EUR22.9 million, accumulating losses to date of EUR123.4 million, while its negative net position amounted to EUR23.4 million. The report added that On Telecoms has outstanding loans of EUR50 million and obligations of EUR95 million, potentially hampering a takeover of the company, which could attract a speculative purchase price of EUR20 million-EUR25 million.