Greek telco Wind Hellas has reportedly made an offer to acquire ISP Forthnet’s fixed-line telecoms business.
Greek newspaper Ekathimerini reported Wind, the nation’s third-largest mobile operator, is seeking to acquire Forthnet’s telecoms business…
Greek telco Wind Hellas has reportedly made an offer to acquire ISP Forthnet’s fixed-line telecoms business.
Greek newspaper Ekathimerini reported Wind, the nation’s third-largest mobile operator, is seeking to acquire Forthnet’s telecoms business but not its pay TV network, Nova. The report cited unidentified sources as saying the parties are expected to conclude talks by the end of the month.
Wind was not immediately available for comment.
However, Forthnet confirmed in a statement to the Hellenic Capital Market Commission (HCMC) on Friday 26 October that it is “exchanging non-binding proposals” with Wind in relation to a potential consolidation of business activities and the potential terms and conditions of a strategic alliance.
Today, Forthnet issued another statement to the HCMC informing investors that official corporate announcements from both itself and “other companies in the sector” will keep them up-to-date with the overall progress on a potential consolidation of its business activities and negotiations with Wind.
Earlier this year, Wind and Vodafone were in talks about a potential merger of their business activities, however the latter announced in February that talks had been abandoned. At the time, a Vodafone spokesperson attributed the decision not to proceed with the merger to “a number of factors”, including uncertainty in the Greek market. But observers had also noted that competition concerns could pose a major hurdle for a merger of Vodafone and Wind Hellas.
Hellenic Telecommunications Organization (OTE) is Greece’s largest fixed-line operator, while its wholly-owned subsidiary Cosmote is the largest mobile operator. Vodafone is the second largest mobile operator.
Forthnet describes itself as the largest privately-owned broadband and pay TV provider in Greece. Its telecoms business, Forthnet SA, is listed on the Athens Stock Exchange. Its media business, Forthnet Media Holding, owns the Nova TV network.
