ForthNet submits non-binding offer for Wind Hellas

2 Oct 2009

ForthNet, Greece’s largest alternative fixed broadband provider by subscribers, said this morning that it has submitted a non-binding offer to acquire Greek mobile, fixed line and broadband operator Wind Hellas (including Tellas). A report from Reuters says that ForthNet did not disclose financial details of the offer, but in its filing to the stock exchange it stated that ‘this does not mean that there will be a binding offer if the non-binding one is accepted.’ Wind Hellas, part of the Egyptian-owned Weather Investments group which includes Orascom Telecom, is currently looking at a range of options to restructure its EUR3.2 billion (USD4.7 billion) debt pile. A EUR67 million interest payment is due on 15 October.

Greece, Forthnet (Nova), Wind Hellas (incl. Tellas)