GO goes as United Group increases stake in Forthnet

16 Nov 2020

Amsterdam-based United Group has reached an agreement to increase its stake in Greek telco Forthnet by acquiring shares from Maltese firm GO. A report from Liberal says that United Group will pay EUR3.23 million (USD3.8 million) for the 9.63% share of Forthnet held by GO, adding to its existing 33.2% stake. United Group also has a call option on an additional 22.6% interest held by a group of four Greek banks, which could take its ownership of Forthnet to more than 65%. Other shareholders in Forthnet include Massar Investments (14.4%), Wind Hellas (14.1%) and Vodafone Greece (below 5%).

Greece, Forthnet (Nova), GO, United Group