Voda­fone gets Forth­net stake

Kathimerini English - - Front Page -

have formed a com­mon front with Arab com­pany For­gendo to avert the ac­qui­si­tion of Greek telecom­mu­ni­ca­tion com­pany Forth­net by ri­val Wind Hel­las. Re­li­able sources say that Voda­fone has ac­quired a 7 per­cent stake in Forth­net through the re­cent share cap­i­tal in­crease of the lat­ter, which owns lead­ing pay TV plat­form Nova. As a re­sult, by team­ing up with For­gendo, which holds 44 per­cent of Forth­net, the two firms gain a com­mand­ing ma­jor­ity in the com­pany. Wind Hel­las is be­lieved to con­trol 33 per­cent of Forth­net af­ter the share cap­i­tal in­crease, but it may well be un­able to ob­tain full con­trol of the com­pany now. Voda­fone is ea­ger to pre­vent the strength­en­ing of ri­val tele­phony and In­ter­net provider Wind as that would give the lat­ter a 20 per­cent mar­ket share in fixed tele­phony and a 70 per­cent share in pay TV, while also hold­ing an 18 per­cent share in mo­bile tele­phony. Voda­fone has not yet con­firmed that de­vel­op­ment.

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