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United Group expands to Greece with stake in Forthnet

2020-06-01 08:09:00| Telecompaper Headlines

(Telecompaper) United Group, the cable and media operator in South Eastern Europe, has agreed to acquire the debt and a significant minority interest in Forthnet, the pay-TV and broadband provider in Greece. The transaction will see United Group acquire all of the company's loan obligations, the convertible debt and an initial 36 percent of the company's shares following the successful conclusion of negotiations with Forthnet's main shareholders and creditors National Bank of Greece, Alpha Bank, Piraeus Bank and Attica Bank. Further details of the transaction were not disclosed, and the deal remains subject to customary regulatory approvals.

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