Novator to offload additional ForthNet shares

27 Apr 2007

Novator, the largest shareholder of Greek alternative fixed line and broadband provider ForthNet, has announced its intention to sell 10.8% of Forthnet shares, out of its current 21.01% holding. The sale will be conducted via an Accelerated Global Tender, with the price set at around EUR10.5 (USD14.3) per share. The move forms part of Novator’s strategy to liquidate part of its telecoms shareholdings. In January it reduced its stake in ForthNet from 38.65% to 21.01% by selling shares to domestic and overseas investors in a private placement.

Greece, Nova (formerly Forthnet)