Strategic investor sought for Greece’s Forthnet

6 Nov 2017

Four Greek banks are seeking a strategic investor to take a stake in local ISP and pay-TV provider Forthnet, which offers business services under its own brand and is active in the residential market as ‘Nova’. The four lenders have become the telco’s main shareholders after converting Forthnet bonds to shares; between them they now control 32.7% of Forthnet’s share capital, though they are looking to make a quick exit from the company once a new investor is found.

Kathimerini reports that Japanese firm Nomura International has been called in to help in the search for a strategic investor. Rival Greek operators Wind Hellas and Vodafone currently have interests in Forthnet, though neither has so far commented on their future plans for their holdings.

Greece, Nova (formerly Forthnet)