Buyout firms seek sale of Greek mobile operator for EUR4billion.(MERGERS AND ACQUISITIONS)(TIM Hellas )(Brief article)

2.5G-3G, October, 2006

TIM Hellas is up for sale for up to $5.12 billion. The present owners, Apax Partners and Texas Pacific Group, have announced this intention. An auction is currently going on, managed by Lehman Brothers and Morgan Stanley.

The chairman of Orascom Telecom, Naguib Sawiris, has announced his intention of joining in the bidding, to amalgamate TIM Hellas with his group. New infrastructure investments and other improvements in TIM Hellas led to its earnings in the first three months of 2006 reaching $83.79 million, up from $61.38 million in the same period last year.

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