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OTE Seeks Forthnet Subscription Services

OTE confirmed that it was in initial discussions with its competitor Forthnet, to acquire its subscription television sector.

The Greek telecom corporation's act follows its largest national competitor Vodafone's 19.75% Forthnet investment. Both companies are vying for domination over Forthnet's pay-per-view services, as it would greatly add value to their market shares and revenues.

Yesterday, Forthnet shares increased by 19% on the Athens Stock Exchange, with a market value of 144 million euros. OTE stated, "There have been preliminary contacts between OTE and Forthnet's major shareholder Forgendo Ltd., regarding the Nova pay-TV operations", as reported by Kathimerini.  The company added, "OTE has been developing its pay-TV operations, as it believes that pay-TV is an area with growth potential".