ForthNet and Wind reportedly back in talks

8 May 2012

Greek alternative telcos ForthNet and Wind Hellas are reportedly in negotiations to look at possible partnership deals, resurrecting previous talks which have looked at the potential for a merger or other form of cooperation between the rivals, in an attempt to find solutions to the financial difficulties faced in the Greek market. According to Ekathimerini.com, sources say that the firms have resumed discussions after breaking off talks last summer, when it emerged that Wind might merge with Vodafone, although this proposed deal was not completed, in the face of regulatory obstacles. The unnamed sources added that the most recent talks have been prompted by worries over the high level of short-term loans taken out by ForthNet, which has failed to meet creditors’ demands for a share capital increase of at least EUR30 million (USD39 million), while Wind Hellas – which cleared EUR1.87 billion of third party debt in a December 2010 restructuring – is faced with finding over EUR50 million by the end of this year to meet government demands for renewing wireless frequencies.

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