United Group now looking at Greece

25 Mar 2020

A new potential buyer has expressed an interest in the majority stake in Greek ISP Forthnet (Nova) which is being offered for sale by a consortium of four local banks. Kathimerini reports that Amsterdam-based United Group, which is backed by the investment firm BC Partners, is looking at Forthnet as a route into the Greek communications and pay-TV market. United Group currently has operations across south-eastern Europe, including Serbia, Slovenia, Bosnia & Herzegovina, Croatia, Montenegro and Macedonia, and is also looking to acquire Vivacom of Bulgaria.

A takeover of Forthnet by Greek media firm Alter Ego recently collapsed, but this was followed by the news that UK-based Duet Private Equity was hoping to begin negotiations with the banks regarding the sale of their interest in the telco.

Greece, Nova (formerly Forthnet), United Group