ECONOMY

Wind Hellas tables bid for Forthnet?s telephony arm

Wind Hellas, Greece?s third-largest mobile telecommunications provider, announced on Friday it had submitted an offer to listed internet service provider Forthnet for the acquisition of its fixed-line telephony arm. The bid does not include Nova, Forthnet?s pay TV network.

The two companies have reportedly been locked in negotiations discussing the possibility of their cooperation for a long time. Sources had said that talks were to be successfully concluded at the end of October.

Should the two companies come to an agreement, the country?s second-biggest fixed-line and Internet services provider will be created, behind state-managed OTE and with an obvious aim to rival the market leader.

Forthnet made it clear on Friday that it is exchanging noncommitting proposals with Wind. Forthnet?s stock at the Greek bourse climbed 12.34 percent on Friday, compared to a 0.76 decline for the ATHEX general index, which will start Monday?s session from 874.54 points.