OTE eyes Greek rival’s pay-TV unit
Greek operator OTE is thought to be in early discussions with rival provider Forthnet, to acquire its Nova pay-TV business.
OTE is reportedly negotiating with Forthnet’s main shareholder, Forgendo, over the potential acquisition of Nova, in a bid to boost its market share and increase revenues.
“There have been preliminary contacts between OTE and Forthnet’s major shareholder Forgendo, regarding the Nova pay-TV operations,” OTE confirmed in a bourse filing.
Earlier this month, OTE’s biggest domestic rival, Vodafone, acquired the option to increase its stake in Forthnet from 6.5% to 19.75% – which it can exercise by June 4 2015.
The acquisition brings Vodafone’s stake in line with Wind Hellas’, while Forgendo, controlled by Emirates International Telecommunications (EIT), holds a 44% stake in Forthnet.
OTE, 40% owned and managed by Deutsche Telekom, is reportedly looking to high-speed internet and pay-TV services to revive revenues and prevent customers migrating to rivals for cheaper deals.
“OTE has been developing its pay-TV operations, as it believes that pay-TV is an area with growth potential,” the bourse filing from the company read.