Intracom

Intracom Defense (IDE), a subsidiary of the Intracom Holdings group, signed a deal to sell 90.91% of its shares to Israel Aerospace Industries (IAI) in Athens on Tuesday, a statement by the Israeli company said.

The deal is valued at nearly 60 million euros and is expected to be completed by the second quarter of 2023, pending the fulfilling of terms and the necessary approvals.

For a sixth consecutive year, the American-Hellenic Chamber of Commerce is the organizer of the Hellenic Pavilion at the AUSA Annual Meeting & Exposition of Defense Systems, which will take place on October 14-16 at the Walter Washington Convention Center in Washington DC.

Both Intracom Holdings and Intralot on Thursday refuted talk about a merger of the two companies.

Investment firm QCM denied on Thursday any involvement in Intracom's stock price decline this week, describing an internet report on the matter as "fake news." The denial sent the stocks of the Greek group and its subsidiary Intralot soaring in Thursday's trading session.

After four days southbound and a few more hours of losses on Tuesday, Greek stocks staged a recovery, offsetting the early drop and recovering some ground lost in previous sessions.

Ten investment groups have expressed an interest in the concession of Alimos marina in southern Athens, including foreign and Greek companies such as Lamda Development, Aktor, Dogus, J&P Avax, Koc Holding, Intracom and Archirodon.

Athens-listed companies Ellaktor and Intracom Holdings said on Monday they are being investigated, among other firms, by the Hellenic Competition Commission for projects awarded by the state in past years.

Both companies said at this stage it is not known when the investigation will be completed and can't speculate on its outcome or possible effect on their finances.

BELGRADE - Serbian President Tomislav Nikolic spoke in Belgrade Wednesday with an Intracom Telecom delegation headed by President of the Board Mohamed Ahmed, who briefed him on the company's new projects.

Intracom Telecom, which has been present in Serbia for nearly 20 years, plans to expand its operations in the country.

The last hour of trading on the Greek bourse on Tuesday generated significant losses for the majority of stocks despite assurances by the finance minister that progress was being made in talks with the country’s creditors.

The Athens Exchange (ATHEX) general index closed at 962.05 points, shedding 2.83 percent from Monday’s 990.11 points.

By Vangelis Mandravelis

The telecommunications market in Greece is abuzz with developments as judgment day looms for some of the industry’s main players. This mainly concerns companies currently operating on a razor’s edge such as Hellas Online (HOL) and Cyta Hellas.