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Greek Nova back on the agenda

March 20, 2015 10.49 Europe/London By Chris Dziadul

ForthnetGreece 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.

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Filed Under: Newsline, Platforms, Satellite Tagged With: Forthnet, Greece, Nova, Vodafone, Wind Edited: March 20, 2015 10:49

About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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