Through Mediterranean Broadband Access, a company recently founded by Mediterranean Nautilus Holding (100% owned by Telecom Italia) and by Forthnet, the Telecom Italia Group today won a license in Greece for nationwide exploitation of a package of Wireless Local Loop (WLL) frequencies on the 26 Ghz band.
Mediterranean Broadband Access won the license with a bid of around US$8 million (2,920 million drachma).
A WLL license is a significant driver for growth in the business broadband market, offering provision of Forthnet´s IP services and synergies with the Mediterranean Nautilus project.
The Telecom Italia Group has been present in the Greek telecommunications market since 1993 through STET Hellas, a subsidiary operating in the mobile telephony market. Group company Mediterranean Nautilus Holding recently acquired 5% of Forthnet, Greece´s largest data transmission and advanced Internet service provider.
The newly-won WLL fixed telephony license enables the Telecom Italia Group to strengthen its presence in Greece, expanding its range of services in a highly competitive and rapidly expanding market that is currently undergoing liberalization (January 2001). The Greek telecommunications market is especially appealing because of high growth forecast in penetration and demand for value added services.