The acquisition of TERNA Fiber by OTE marks a new era in the Greek telecommunications market. The deal, valued at €380 million, shifts the balance of power and dramatically accelerates fiber optic network deployment across the country. What does this mean for consumers, businesses, and competition?
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📄 The Deal Details
€380M
Acquisition value
850K
Households covered by TERNA
35%
Increase in OTE's FTTH coverage
TERNA Fiber, a subsidiary of the GEK TERNA group, developed one of the largest independent fiber optic networks in Greece over the past 3 years. Focusing on areas where OTE had a weak presence, the network primarily covers regional areas and mid-sized cities.
🎯 Why OTE Made This Move
🏃 Competition from Vodafone/Nova
The Vodafone-Wind merger created enormous pressure. The new giant is investing aggressively in fiber.
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🌍 EU Gigabit Targets
The EU requires 100% gigabit coverage by 2030. Greece is currently at 42%.
💰 Economies of Scale
It's cheaper to acquire an existing network than to build one from scratch.
📈 ARPU Increase
Fiber subscribers pay 40% more and remain loyal customers.
🗺️ Where Coverage Is Expanding
TERNA Fiber's network covers 120 cities and towns across Greece. Key coverage areas include:
| Region | Households | Speed |
|---|---|---|
| Peloponnese | 180.000 | up to 2 Gbps |
| Crete | 150.000 | up to 2 Gbps |
| Central Greece | 120.000 | up to 1 Gbps |
| Thessaly | 200.000 | up to 2 Gbps |
| Epirus/Western Macedonia | 100.000 | up to 1 Gbps |
| Aegean Islands | 100.000 | up to 1 Gbps |
👥 What Changes for Consumers
✅ Positive Developments
- Faster expansion: More areas will get fiber in 2026-2027
- Unified service: One provider, one support line
- Infrastructure upgrade: OTE will invest an additional €200M
- 5G-Fiber combo: Better coverage for FWA in remote areas
⚠️ Concerns
- Less competition: One fewer wholesale provider
- Potential price increases: Monopolistic tendencies in certain areas
- Dependency: Smaller ISPs will depend on OTE
⚔️ The 2026 Fiber Optic Battle
The Greek fiber landscape is changing dramatically. Here's the comparison:
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🔵 OTE (post-acquisition)
3.2M households
Market share: ~55% FTTH
🔴 Nova (Vodafone+Wind)
2.1M households
Market share: ~35% FTTH
🟢 Others (Inalan, HCN, etc.)
600K households
Market share: ~10% FTTH
📅 Completion Timeline
February 2026
Deal announcement, due diligence begins
April 2026
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EETT (regulatory) approval expected
June 2026
Acquisition completion, network integration
December 2026
Full integration, network upgrades
📊 The Bottom Line
The TERNA Fiber acquisition is the biggest move in the Greek telecommunications market in the last 5 years. OTE strengthens its position as the fiber leader, but EETT will need to ensure healthy competition. For consumers, this development brings faster expansion but requires vigilance on pricing.
