{"id":32964,"date":"2009-10-26T12:48:51","date_gmt":"2009-10-26T16:48:51","guid":{"rendered":"http:\/\/www.pehub.com\/?p=53757"},"modified":"2009-10-26T12:48:51","modified_gmt":"2009-10-26T16:48:51","slug":"wind-hellas-gets-two-bailout-bids","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/32964","title":{"rendered":"Wind Hellas Gets Two Bailout Bids"},"content":{"rendered":"

ATHENS\/LONDON (Reuters) – The list of bidders for Greek mobile operator Wind Hellas was whittled down to two on Monday, with only the current owner and a group of bondholders left in the running to bail out the debt-laden company.<\/p>\n

Wind Hellas, which must agree a debt restructuring deal with lenders — owed 3.2 billion euros ($4.8 billion) — within the month, said on Monday it would continue to talk to the two bidders and would identify a preferred candidate next week.<\/p>\n

The company is looking to secure new cash investment and a reduction in debt, said Matthew Tippetts, director of Wind Hellas parent company Hellas Telecommunications UK.<\/p>\n

“The group is now working with its creditors to achieve the necessary consents to implement a transaction,” Tippetts said.<\/p>\n

Current owner Weather Investments, majority-owned by Egyptian telecoms tycoon Naguib Sawiris, is one of the bidders, while a group of subordinated bondholders coordinated by Aladdin Capital is the other, the company said in an emailed statement.<\/p>\n

U.S. buyout house TPG\u00a0Capital, which previously owned the company alongside Apax Partners, had also looked closely at making an offer before ultimately declining to do so.<\/p>\n

The subordinated bondholders — owed 1.17 billion euros — have said they would be willing to back a buyout of the company if an alternative deal undervalued Wind Hellas’s assets. [ID:nLM294867] (Reporting by Tom Freke and Simon Meads in London, with Harry Papachristou in Athens; Editing by David Holmes) ($1=.6650 Euro)<\/p>\n

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ATHENS\/LONDON (Reuters) – The list of bidders for Greek mobile operator Wind Hellas was whittled down to two on Monday, with only the current owner and a group of bondholders left in the running to bail out the debt-laden company. Wind Hellas, which must agree a debt restructuring deal with lenders — owed 3.2 billion […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-32964","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/32964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=32964"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/32964\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=32964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=32964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=32964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}