TIM Hellas

From Wikipedia, the free encyclopedia

You have new messages (last change).
This article or section does not adequately cite its references or sources.
Please help improve this article by adding citations to reliable sources. (help, get involved!)
Any unsourced material that has been or is likely to be challenged may be removed at any time.
This article has been tagged since November 2006.

TIM Hellas is a company established in 1992. It was the first company in Greece to be granted a license for the creation of a national mobile telephony services network (GSM).

To obtain this license TIM Hellas invested the sum of 30 billion drachmas, which constituted one of the biggest investments in Greece since the end of the Second World War. The company initiated its activities in the Greek market under the brand name TELESTET on June 29, 1993 when the first call from a mobile phone took place in the country.

For the next 12 years the company became established in the Greek mobile telephony market thanks to the high telecommunications technology and its innovations, since it has been the first company to offer to Greek mobile phone users the most pioneering services and products, such as the widely known Β Free, a product that consumers today still identify with the notion of pre-paid mobile telephony.

In 1998 TIM Hellas was the first Greek mobile telephony company to be listed in international stock markets, the NASDAQ in New York City and the Amsterdam stock market, where its shares are still being negotiated today.

In the beginning of June 2001, TIM Hellas was the first telecommunications company in Greece and one of the first in the world to obtain the Quality Management certificate ISO 9001: 2000.

On February 8, 2004, the company’s brand name changed to TIM, thus introducing in the Greek market the name of the parent company, which participates in the telecommunication Group of Telecom Italia as well as "Freemove", the biggest telecommunications alliance in Europe that consists of the companies Orange (Great Britain), Telefonica Moviles (Spain), ΤΙΜ (Italy) & T-Mobile (Germany).

On April 4, 2005, TIM subsidiary TIM International N.V. executed an agreement for the disposal of its 80.87% equity stake in TIM Hellas to funds advised by Apax Partners and Texas Pacific Group (TPG). The price of the transaction was €1,114.1 million which corresponds to an enterprise value of €1,600 million for 100% of TIM Hellas and it’s equivalent to approximately €16.43 per share. The closing of the transaction and the approval by the competent authorities were finalized in July 2005.

Retrieved from "http://en.wikipedia.org../../../t/i/m/TIM_Hellas_def9.html"