Forthnet secures EUR500m investment

15 May 2017

Greek telco Forthnet, which trades both under its own name and under the ‘Nova’ brand, has signed a financing deal with two Chinese firms to help fund its ongoing fibre-optic network rollout. Shanghai Gongbao Business Consulting and KaiXinRong Group have agreed to invest up to EUR500 million (USD546 million) over seven years, with the bulk of the investment coming in the first three years. In July 2016 Forthnet signed a cooperation agreement with Chinese vendor ZTE for the rollout of fibre infrastructure.

Greece, Nova (formerly Forthnet), ZTE