Forthnet confirms offer from Alter Ego Mass Media

17 Sep 2019

Greek telco Forthnet, which also offers services under the Nova brand, has confirmed that a group of four shareholder banks have received an offer for their combined interest in Forthnet. The banks – Piraeus Bank, National Bank, Attica Bank and Alpha Bank – which together own around 36% of Forthnet after converting debt to shares two years ago, are evaluating an offer from Greek media group Alter Ego Mass Media.

In June this year it was reported that a consortium involving Antenna Group and Blackstone was close to securing a deal to acquire the banks’ stake in Forthnet, though no further developments have been announced since then. Greek telcos Wind and Vodafone were also linked as potential buyers in 2018 but a deal could not be reached.

Greece, Nova (formerly Forthnet)