The proposed paper aims to enlighten us about the evolution of Greek telecommunication industry under the prism of strategic management and critical decisions that influenced the whole market at the period between 2014–2022. In that respect, the Structure-Conduct-Performance (SCP) paradigm of industrial organization, enriched with simultaneous equations, will be used to model the Greek telecom market. In that respect, a hybrid approach, blending quantitative methods of IO (simultaneous equations) with qualitative insights of strategic management, will be employed for a holistic understanding on complex issues related to the Greek telecommunications. The purpose of the research is to provide insights with regard to how operators’ conduct is defined and how operators’ conduct interrelates with performance.