Forthnet plans to become the fourth largest player in Greece’s telecom market.
Ekathimerini reports that this follows the completion of a transaction earlier this week that saw its debts, totally €281 million, change hands.
It adds that United Group, which is backed by BC Partners, acquired them from National Bank, Alpha Bank, Piraeus Bank and Attica Bank.
Quoting Nikos Stathopoulos, BC Partners CEO, it also says that the new funds will allow Forthnet to develop its pay-TV service Nova and internet offer, as well as enter the mobile telephony market.
As previously reported by Broadband TV News, in May this year United Group has agreed to acquire the debt and a significant minority interest in Forthnet.