Forthnet becomes Nova; still interested in mobile, with Wind a potential target

17 Jun 2021

Greek telco Forthnet, which offers residential services under the Nova brand, says its entire business will shift to the Nova name. United Group, now the 100% owner of Nova after it made its first investment in the operator last year, says it intends to ‘transform Nova into a strong competitor in the Greek telecommunications and media market, empowering it with our significant experience’. The group says it has already invested EUR150 million (USD181 million) in its acquisition and restructuring of Forthnet-Nova, and will spend a further EUR50 million this year.

A report from Capital cites United Group CEO Viktoriya Boklag as saying that an entry into the Greek mobile market is a possibility, with a potential merger with Wind Hellas described as ‘interesting’. She added that a mooted MVNO launch over the networks of Vodafone Greece was halted because wholesale rates meant the business could not be competitive, though she did add that Greece needs a fourth mobile player.

Greece, Nova (formerly Forthnet), United Group, Wind Hellas