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Telecom Conglomerate United Group to Invest $2 Billion in Greece

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Greek PM Kyriakos Mitsotakis meeting with United Group officials on Thursday in Athens. Credit: PM press office

On Thursday, Telecom conglomerate United Group announced plans to invest $2 billion worth of investments in Greece up to 2027 in order to upgrade the telecoms infrastructure.

According to a government announcement, United Group’s investment plan foresees the installation of a 10 Gigabit optical-fiber network that will cover 4.5 million people and enterprises.

Greek Prime Minister Kyriakos Mitsotakis at a meeting with representatives of United Group in Athens said that the announcement of United Group’s new investment in Greece is proof that both domestic and foreign investors trust in Greece’s prospects.

“I believe that the excellent job carried out by the Digital Governance Ministry, as well as the available resources of the Recovery and Resilience Fund support such investments,” the Greek premier said, underlining that 2022 will be a record-breaking year in terms of attracting foreign investments to Greece.

Mitsotakis said the digital transformation of the Greek economy and society is a wager which Greece will use to provide Greece the opportunity to make a real leap.

United Group: investment in Greece for modern optical fiber infrastructure

Οn his part, the head of BC Partners in Europe Nikos Stathopoulos said: “Today we are making a very important investment of 2.0 billion euros in the development of optical fibers which, we believe, will significantly promote the country’s prospects and even more, the economic prosperity and social prosperity of our country.”

The managing director of United Group Victoriya Boklag said that “from the first day we came to Greece, we made clear that our investment is not only for now. What we are seeking is a long-term relationship.

“We are in a pleasant position to announce that we will invest an additional 2 billion euros in the next five years. A large part of the investment will be channeled to the construction of super modern optical fiber infrastructure for Nova”.

On his part, Digital Governance Minister Kyriakos Pierrakakis said: “The specific investment is a vote of confidence in Greece and a vote of confidence in its technological potential”.

Related: Dramatic Rise of Foreign Investments in Greece

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