Media company United Group to invest $2 billion in Greece by 2027

ATHENS, Sept 8 (Reuters) – Balkan telecommunications and media company United Group plans to invest 2.0 billion euros ($2 billion) in Greece through 2027 to upgrade its telecommunications infrastructure, a the Prime Minister’s Office announced on Thursday.

United Group, majority-owned by private equity firm BC Partners, will install a 10-gigabit fiber optic network to serve 4.5 million customers, Prime Minister Kyriakos Mitsotakis’ office said in a statement.

The Conservative government sees the deal as a stepping stone towards digitizing public services, one of its top priorities.

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Mitsotakis, who met United Group representatives in Athens on Thursday, said he expected 2022 to be “a record year for Greece in terms of attracting foreign investment.”

“Your decision is proof of the confidence shown by domestic and international investors in Greece’s prospects,” he told the meeting.

United Group CEO Victoriya Boklag said the company is looking for a long-term relationship with Greece.

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Reporting by Renee Maltezou Editing by Mark Potter

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Cathy W. Howerton