Sunday May 24, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Vodafone and Wind prepare their counteroffer for Forthnet

By Vangelis Mandravelis

Vodafone and Wind Hellas appear to have countered rival OTE’s offer for the pay-TV operations of Forthnet (Nova). The two telecommunications networks are preparing to submit, or may have already submitted, a new offer for Forthnet in its entirety and not just its pay-TV arm, although neither of the two would officially confirm it on Wednesday.

Sources say that this new bid amounts to 500 million euros, including the borrowing debts of Athens-listed Forthnet, which add up to 330 million euros.

The issue will become clearer on Thursday with the anticipated intervention of the Capital Market Commission. It appears that Vodafone and Wind, which between them control 39.5 percent of Forthnet, did not submit a demand on Wednesday for a public offering for the buyout of the company, which added 12.5 percent to its stock price yesterday.

The onus is now on the Arab owners of Forgendo, which controls 44 percent of Forthnet. After receiving the joint offer from Vodafone and Wind, the Arabs will have to issue a response to OTE, which has tabled a bid for Nova worth between 250 and 300 million euros. It is said that the Arabs have delayed their response in anticipation of the Vodafone-Wind offer.

The Arabs’ response will to a great extent determine the future of the Greek telecommunications sector. Everything points to Vodafone and Wind creating an archrival to OTE, and the question is what weapons they will use against the market’s dominant player. A pay-TV platform would doubtlessly create a significant form of defense in the context of the telecom market’s declining revenues, while adding Forthnet’s 500,000-strong client base to Vodafone and Wind will certainly expand their economies of scale.

ekathimerini.com , Wednesday Jul 16, 2014 (23:16)  
Greece does not have the money to make June IMF repayment, warns interior minister
Hotel contracts with a ‘Greek default clause’
Listed firms have whisked away most of their cash reserves
Car sales drop a gear on VAT rate uncertainty
Greeks back government´s red lines, but want to keep euro
Cash-strapped Greeks remain supportive of the leftist government's tough negotiating style, according to a new poll published Sunday, but hope for a deal with creditors that will keep the eu...
SYRIZA seeks new relationship with police
After a rather rocky start in its relationship with the country’s police force, the leftist-led coalition appears to be seeking closer cooperation but without being too obvious about it. A f...
Inside News
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
BASKETBALL
Olympiakos strolls past Korivos Amaliadas
Olympiakos completed the Basket League’s semifinal line-up on Saturday after sweeping Korivos Amaliadas with a 2-0 score in the best-of-three quarterfinals. After winning 91-52 in Game 1 at ...
Inside Sports
COMMENTARY
The good news and the bad
The good news is that a Greek default will most likely be prevented, a deal will be reached with the country’s creditors and an extension will be granted for negotiations over the next bailo...
EDITORIAL
Geopolitical threats
Greece needs to extricate itself from this crisis fast and get back on its feet, not least because the geopolitical climate is becoming increasingly stormy. The Balkan region is re-entering ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greeks back government´s red lines, but want to keep euro
2. Greece does not have the money to make June IMF repayment, warns interior minister
3. SYRIZA seeks new relationship with police
4. Solving islands´ water problems would take 66.4 mln euros, study finds
5. Reds add Cup to league trophy with 3-1 win over Xanthi
6. Olympiakos strolls past Korivos Amaliadas
more news
Today
This Week
1. Greeks back government's red lines, but want to keep euro
2. Greece does not have the money to make June IMF repayment, warns interior minister
3. The good news and the bad
4. SYRIZA seeks new relationship with police
5. Solving islands' water problems would take 66.4 mln euros, study finds
6. Geopolitical threats
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.