Greece’s OTE telecom offers to buy Forthnet’s pay TV unit

Greek telecoms company OTE said on Tuesday it had submitted a non-binding offer of 250 million to 300 million euros to acquire rival Forthnet’s pay TV operations.

“OTE’s non-binding offer is within the range of 250-300 million euros on a debt-free, cash-free basis of the Nova pay TV operations. In the event that an agreement is reached, it will be subject to clearance from competent authorities,” OTE said.

OTE said Barclays is its adviser on the deal. [Reuters]