Vodafone quits Hellas merger over Greek default fears Vodafone Greece and Wind Hellas have about 4m customers apiece, but Vodafone has about 30pc of the Greek market by revenue, compared to Wind's 20pc. By combining, they would be roughly the same size as the country's third operator, Cosmote Mobile, which is owned by OTE, Greece's main fixed-line operator. It was hoped that the deal , agreed in principle last August, would bolster the two operators' position against Cosmote, in an increasingly turbulent market. Vittorio Colao, Vodafone chief executive, had previously warned that the world's largest operator by revenue needed to change the dynamic in Greece for it to continue to invest in the country, but Monday's announcement will prove more serious for Wind in the short term. The company, which is owned by its bondholders, has relatively little spectrum and needed a deal to compete effectively in a market which has been rocked by pressures on consumer spending. It could still reach a network-sharing deal with Vodafone.