Advanced Television

Forthnet/Nova new buyers emerge

April 24, 2020

Greek telco Forthnet and in particular its ‘Nova’ DTH satellite TV operation is up for sale. One potential bidder, Greek businessman Evangelos Marinakis, dropped out of the bidding in March. New potential buyers have now emerged.

Three bids have been tabled: Two UK-based investment funds, Duet Private Equity and United Group. A local Greek media conglomerate Antenna, privately owned by the Kyriakou family. Antenna is the largest Greek media house and broadcasts the ANT 1 channel.

Local reports suggest that Duet, for example, is bidding €41 million for the enterprise.

Antenna Group operates in Greece, Cyprus, Romania, Serbia and Montenegro.

A decision is expected this coming week.

Categories: Articles, Business, DTH/Satellite, M&A