GO goes Forth and multiplies shares

25 Jun 2008

Thomson Financial reports that GO (formerly Maltacom) has acquired a further 700,000 shares in Greek alternative telco ForthNet for a total sum of EUR3.82 million (USD5.94 million) via its jointly-owned holding company Forgendo. In January CommsUpdate reported that Forgendo, which is owned in equal portions by Maltese telco GO and its majority owner Emirates International Telecommunications (Malta) (EITM), bought a 21% stake in ForthNet for EUR93.83 million, making it the largest shareholder in the fixed line and broadband operator. Forgendo is an intermediary holding vehicle registered in Cyprus, whilst EITM is a joint venture of Tecom Investments and Dubai Investment Group, both part of the Dubai Holding group. ForthNet is the largest single competitor to Greek incumbent OTE in the broadband market.

Greece, Forthnet (Nova)