OTE bids to buy NOVA pay-TV service
The Hellenic Telecommunications Organisation (OTE) has offered to buy the NOVA pay-TV division of Greek telco and TV provider Forthnet.
OTE has been developing its pay-TV operations successfully during the past few years, finding particular joy with its satellite offering over the last year, and sees significant growth potential for Greek pay-TV services, to the benefit of consumers. OTE believes the intended agreement will be beneficial to all involved parties and is consistent with its strategic priorities.
OTE's non-binding offer is within the range of €250-300 million on a debt-free/cash-free basis of the NOVA pay-TV operations, and the proposed acquisition is subject to clearance from the competition authorities.