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HomeNews Cosmote to Buy Germanos for 1.58 Billion Euros
Cosmote Mobile Telecommunications, Greece's biggest wireless operator, will pay 1.58 billion euros to buy Germanos, Greece's biggest phone services retailer, to spur its expansion into eastern Europe, Bloomberg reports.
The acquisition will consolidate Cosmote's dominance in Greece and allow the wireless operator to obtain large number of new customers that Germanos have through a network of about 200 stores in Macedonia, Romania and Bulgaria.
Cosmote last year spent 610 million euros buying wireless businesses in Bulgaria, Macedonia and Romania to tap demand for mobile-phone services that is growing faster than in its home market.
