Cosmote
Encyclopedia
COSMOTE is the largest mobile network operator
in Greece
, with 7.9 million subscribers. The company is headquartered in Athens and it is a fully owned subsidiary of the Hellenic Telecommunications Organization (OTE)
, the incumbent telecommunications provider in Greece. COSMOTE has developed business operations in three other SE Europe countries through subsidiaries: AMC in Albania, GLOBUL in Bulgaria, and COSMOTE in Romania, addressing an extended market of 45 million people. In all four countries COSMOTE counts approximately 20.4 million customers.
. In 2001, COSMOTE reached a customer base of 2.5 million becoming the largest mobile network operator in Greece.
In 2006, COSMOTE acquired 99% of GERMANOS SA, a multinational chain of retail electronic goods vendors. During the same year COSMOTE was listed among the top performers in the technology industry worldwide according to BusinessWeek’s Information Technology 100 rankings, being the only Greek company in the list.
In February 2007, COSMOTE launched broadband Internet (ADSL) and mobile telephony services bundles for the first time in the Greek market. In November of the same year, OTE submitted a voluntary tender offer to acquire the remaining shares of COSMOTE. COSMOTE shares ceased trading on 1 April 2008, almost eight years after the company’s launch in the Athens Stock Exchange
.
In 2008, COSMOTE signed an agreement with Telekom Slovenije for the transfer of 100% of the former’s participation in both COSMOFON and GERMANOS in FYROM. At present, COSMOTE has no operations in the country.
In 2010, COSMOTE upgraded its network, introducing speeds up to 42.2Mbps downlink & 5.8Mbps uplink and announced LTE trials on a pilot base.
In September 2011, COSMOTE’s 3G network population coverage exceeded 98%. In November of the same year COSMOTE renewed its current licence in the 900MHz band and secured additional spectrum in the 900 & 1800 MHz bands in the auction conducted by the Hellenic Telecommunications and Post Commission (EETT).
: COSMOTE acquired 85% of the share capital of the Albanian mobile operator AMC in 2000. In April 2009, COSMOTE raised its participation in AMC to 95% by acquiring a further 12.6% stake that was until then held by the Albanian State, against a cash consideration of 48.2 mil. Euro.
GLOBUL Bulgaria
: COSMOTE assumed the management of OTE Group’s mobile assets in the Bulgarian mobile network operator GLOBUL in 2003 and acquired full ownership of the company two years later.
Cosmote Romania
: In July 2005, COSMOTE acquired 70% of the Romanian operator COSMOROM which was the mobile arm of Romanian national incumbent operator Romtelecom. Later that year, COSMOROM was rebranded to COSMOTE Romania. In November 2009, COSMOTE acquired Telemobil SA (Zapp), the first CDMA 450 MHz mobile phone operator in Romania, thereby gaining access to 3G license and infrastructure in the country.
GERMANOS SA
: A multinational retail network for telecommunication services and products with operations in Greece, Bulgaria and Romania, joined COSMOTE in 2006.
In October 2011, COSMOTE announced that it will support, together with OTE, the digitisation of the libraries of the Halki Seminary
in Constantinople.
Mobile network operator
A mobile network operator , also known as mobile phone operator , carrier service provider , wireless service provider, wireless carrier, or cellular company, or mobile network carrier is a telephone company that provides services for mobile phone subscribers.One essential...
in Greece
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
, with 7.9 million subscribers. The company is headquartered in Athens and it is a fully owned subsidiary of the Hellenic Telecommunications Organization (OTE)
OTE
Hellenic Telecommunications Organization S.A. , usually known by its Greek initials OTE, is the dominant telecommunications provider in Greece. Formerly a state-owned monopoly, OTE was part-privatized in 1998 and is now listed on the Athens and New York Stock Exchanges...
, the incumbent telecommunications provider in Greece. COSMOTE has developed business operations in three other SE Europe countries through subsidiaries: AMC in Albania, GLOBUL in Bulgaria, and COSMOTE in Romania, addressing an extended market of 45 million people. In all four countries COSMOTE counts approximately 20.4 million customers.
History
COSMOTE launched commercial operations in Greece in April 1998 and reached 1 million subscribers a year later. In 2000, the company was listed in the Athens Stock ExchangeAthens Stock Exchange
The Athens Stock Exchange or ASE or ATHEX is a stock exchange located in Athens, Greece.-History:The Athens Stock Exchange started trading in 1876. The Athens Stock Exchange is a subsidiary of Hellenic Exchanges S.A., whose shares are listed in ATHEX...
. In 2001, COSMOTE reached a customer base of 2.5 million becoming the largest mobile network operator in Greece.
In 2006, COSMOTE acquired 99% of GERMANOS SA, a multinational chain of retail electronic goods vendors. During the same year COSMOTE was listed among the top performers in the technology industry worldwide according to BusinessWeek’s Information Technology 100 rankings, being the only Greek company in the list.
In February 2007, COSMOTE launched broadband Internet (ADSL) and mobile telephony services bundles for the first time in the Greek market. In November of the same year, OTE submitted a voluntary tender offer to acquire the remaining shares of COSMOTE. COSMOTE shares ceased trading on 1 April 2008, almost eight years after the company’s launch in the Athens Stock Exchange
Athens Stock Exchange
The Athens Stock Exchange or ASE or ATHEX is a stock exchange located in Athens, Greece.-History:The Athens Stock Exchange started trading in 1876. The Athens Stock Exchange is a subsidiary of Hellenic Exchanges S.A., whose shares are listed in ATHEX...
.
In 2008, COSMOTE signed an agreement with Telekom Slovenije for the transfer of 100% of the former’s participation in both COSMOFON and GERMANOS in FYROM. At present, COSMOTE has no operations in the country.
In 2010, COSMOTE upgraded its network, introducing speeds up to 42.2Mbps downlink & 5.8Mbps uplink and announced LTE trials on a pilot base.
In September 2011, COSMOTE’s 3G network population coverage exceeded 98%. In November of the same year COSMOTE renewed its current licence in the 900MHz band and secured additional spectrum in the 900 & 1800 MHz bands in the auction conducted by the Hellenic Telecommunications and Post Commission (EETT).
Subsidiaries
AMC AlbaniaAlbanian Mobile Communications
AMC is a Telecommunications company in Albania. It is a member of Cosmote Group since 2000, launched commercial operations in 1996, being the first mobile telecommunications company to operate in Albania...
: COSMOTE acquired 85% of the share capital of the Albanian mobile operator AMC in 2000. In April 2009, COSMOTE raised its participation in AMC to 95% by acquiring a further 12.6% stake that was until then held by the Albanian State, against a cash consideration of 48.2 mil. Euro.
GLOBUL Bulgaria
GloBul
GLOBUL is the second-largest Bulgarian GSM/UMTS operator. The company was founded in 2001 and is 100% owned by Greek telecommunications corporation Cosmote, which is active in four Balkan countries: Greece, Bulgaria, Romania, and Albania...
: COSMOTE assumed the management of OTE Group’s mobile assets in the Bulgarian mobile network operator GLOBUL in 2003 and acquired full ownership of the company two years later.
Cosmote Romania
Cosmote România
Cosmote România is a Romanian mobile phone operator. It is the third largest mobile phone operator in the country, following Orange Romania and Vodafone Romania after surpassing Zapp Mobile...
: In July 2005, COSMOTE acquired 70% of the Romanian operator COSMOROM which was the mobile arm of Romanian national incumbent operator Romtelecom. Later that year, COSMOROM was rebranded to COSMOTE Romania. In November 2009, COSMOTE acquired Telemobil SA (Zapp), the first CDMA 450 MHz mobile phone operator in Romania, thereby gaining access to 3G license and infrastructure in the country.
GERMANOS SA
Germanos Group
-History:The Group started as a battery shop in Athens in 1980 and since then has expanded into retail when it opened its first store by the same year.In 2003 Germanos in a joint operation with Folli Follie bought a 40% stake of the Hellenic Duty Free shops....
: A multinational retail network for telecommunication services and products with operations in Greece, Bulgaria and Romania, joined COSMOTE in 2006.
Sponsorships
Under its Corporate Responsibility (CR) programme, COSMOTE supports actions related to the environment, society, the marketplace, the workplace and public awareness. Actions undertaken in this context include inter alia a joint sponsorship together with the Hellenic Telecommunications Organization (OTE) and OTEnet of the Athens 2004 Olympic Games telecommunications. COSMOTE has also initiated a Scholarship programme for university studies, awarding scholarships to high school graduates who have been admitted as first year students in higher educational institutions in Greece.In October 2011, COSMOTE announced that it will support, together with OTE, the digitisation of the libraries of the Halki Seminary
Halki seminary
The Halki seminary, formally the Theological School of Halki , was founded on 1 October 1844 on the island of Halki , the second-largest of the Princes' Islands in the Sea of Marmara. It was the main school of theology of the Eastern Orthodox Church's Ecumenical Patriarchate of Constantinople until...
in Constantinople.
Shareholding structure
The Hellenic Telecommunications Organization (OTE) owns 100% of COSMOTE. On 14.5.2008 the Greek government and Deutsche Telekom (DT) reached an agreement regarding DT’s entrance in OTE’s share capital. The agreement provided that each party would have a stake of 25% + 1 share. On 3 August, DT increased its stake in OTE by 5% to 30%. In June 2011 the German Group acquired an extra 10% stake raising its participation to 40%.Financial results
| Revenues | EBITDA | EBITDA margin | |
|---|---|---|---|
| 2007 | 1,735.9 mil. € | 724.4 mil. € | 41.7% |
| 2008 | 1,843.1 mil. € | 781.9 mil. € | 42.4% |
| 2009 | 2,007.4 mil. € | 741.8 mil. € | 37% |
| 2010 | 1,812.1 mil. € | 667.6 mil. € | 36.8% |