Novator ups ForthNet stake; eclipses Intracom as major shareholder

7 Nov 2005

Icelandic venture capital group Novator Equities has paid an estimated USD7.5 million for an additional 4.2% stake in Greek alternative telco ForthNet. The purchase makes Novator the majority shareholder in ForthNet with a 26.3% stake, ahead of Greek firm Intracom with 22.99%. ForthNet was established in October 1995 and boasts a comprehensive portfolio of wireline telephony and internet services, such as access services via PSTN, ISDN and ADSL networks, permanent links and pre-paid access time cards.

Greece, Nova (formerly Forthnet)