ForthNet knocks on doors of private equity houses

12 May 2009

Greece’s largest alternative fixed broadband access provider ForthNet has entered initial talks with unidentified private equity firms which have indicated their interest in buying a stake in the company, it said in a statement to the Athens Stock Exchange. Largest shareholder Emirates International Telecommunications (EIT) stressed that it intended to maintain its ownership of the DSL operator. EIT owns its 34.5% stake via Cypriot-registered holding company Forgendo, itself owned equally by EIT (Malta) and the latter’s majority-owned Maltese telco GO (formerly Maltacom). EIT is itself a joint venture of Tecom Investments and Dubai Investment Group, both part of the Dubai Holding group.

Greece, Forthnet (Nova)