Greece looks set for market consolidation, with Vodafone and Wind Hellas seeking to gain control of Forthnet and Cyta Hellas.
This, reports Ekathimerini, would give them a subscriber base of 2 million and help the companies compete more effectively with the incumbent OTE.
It adds that Vodafone and Wind currently own a combined total of 40% of Forthnet, whose interests include the DTH service Nova.
Meanwhile, Wind, reportedly working with Vodafone, has also offered to buy Cyta’s Greek subsidiary on a share swap basis.
Wind and Vodafone submitted a cash bid for Forthnet of between €1.70 and €1.90 per share last year. Although due diligence was subsequently completed, they have yet to return with a binding offer.
At the same time, OTE has yet to follow up its interest in securing Nova.
It submitted a non-binding offer in the range of €250-300 million for the pay-TV operation in July last year.
Nova currently has over 500,000 subscribers.
