South African media group Naspers has confirmed the sale of its Greek and Cypriot pay-TV business NetMed in which it owned 87% to the Greek telecommunications company Forthnet.
The transaction still requires the approval of the Greek and Cypriot competition authorities and telecoms regulators.
In a statement Naspers said the €376 million deal was also dependent on the completion of a rights issue by Forthnet.
MultiChoice Hellas broadcasts from the Eutelsat Hot Bird neighbourhood. NetMed’s other interests include the local version of SuperSport.
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