Forthnet suspends JV talks

ForthnetThe owner of the Nova DTH platforms in Greece and Cyprus has said it is abandoning talks that could have led to a consolidation of part of its business activities.Forthnet told investors that the talks had been inconclusive and it will now continue to pursue organic growth in both pay-TV and telecommunications services.

Last May it was reported that the company was in talks with Wind Hellas about possible areas of co-operation.

At the time Forthnet was understood to have debts of around €350 million and has failed to go head with a share capital increase of at least €30 million, asked for by its creditors.