Intarcom takes stake in Forthnet

27 Jul 2005

Greek IT Group Intarcom has acquired the 18% stake in alternative fixed line operator Forthnet held by Minoan Lines for an estimated EUR15 million. Forthnet was established in October 1995 by the Foundation for Technology and Research and Minoan Lines. It was listed on the Athens Stock Exchange in 2000. The company claims to have introduced the internet to Greece and today boasts a comprehensive portfolio of internet services, such as access services via PSTN, ISDN and ADSL platforms, permanent links and pre-pay access time cards. Local, long-distance and international telephony services to corporate customers via leased line were added in December 2001 and on 14 March 2002 Forthnet announced the commercial launch of local telephony to both business and residential users. The company is striving to establish itself as a full-blown integrated service provider through its 60% controlling stake in broadband operator Mediterranean Broadband Access (MBA).

Greece, Forthnet (Nova)