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OTE Seeks Forthnet Subscription Services

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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".