UPDATE 1-Restructuring battle hots up for Wind Hellas

* Junior lenders add incentive to proposal

* Late bail-out approach made by Kellner's PPF

* Successful bid needs backing of lenders

(adds detail, background, PPF approach)

By Alex Chambers and Tom Freke

LONDON, Nov 4 (Reuters) - Subordinated lenders of Wind Hellas have sweetened a part of their restructuring proposal as bidders vie to take control of the debt-laden Greek mobile operator.

The subordinated bondholders are battling with the company's owner, Weather Investments, to win the support of senior lenders who will have a big say over which plan is successful.

Wind Hellas said on Oct. 26 that it would name a preferred bidder this week.

Czech investment group PPF Partners, backed by Czech billionaire Petr Kellner and Italy's Generali (GASI.MI: Quote, Profile, Research), has also made an approach to rescue the company, three sources close to the situation said on Wednesday.