Forthnet acquisition could be announced this month

3 Jul 2019

A consortium involving investment firms Antenna Group and Blackstone is close to agreeing a deal to acquire the Greek broadband and pay-TV provider Forthnet, which offers services under its own name and the ‘Nova’ brand. Local newspaper Capital reports that the partners began the due diligence process in May this year and a deal could be confirmed by the end of this month. Forthnet’s shareholders include a group of banks which took a stake in the firm in 2017 after converting Forthnet bonds to shares. Rival Greek telcos Wind and Vodafone also own minority interests and had been thought of as potential buyers, but a deal failed to materialise.

Greece, Nova (formerly Forthnet)