Forthnet is to merge its pay-TV subsidiary Forthnet pay TV telecommunication services and holdings (FMH) and Multichoice Hellas. The move is being seen as a possible precursor to a takeover of the company.

Forthnet recently lost two key sports rights, Champions League and Europa League, to rival OTE. The Deutsche Telekom-owned venture has tabled a 300 million bid for the pay-TV company.

Vodafone and Wind Hellas are also in the frame. The two companies have been looking to wrest control of MultiChoice Hellas from Emirates International Telecommunications (EIT), the biggest shareholder in Forthnet, since the summer.