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OTE Submits Nova Offer

Hellenic Telecommunications Organization (OTE) announced its substantial offer submission, to purchase Forthnet's TV paid operations Nova.

OTE stated, "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", as reported by ANA-MPA. Barclays is serving as OTE's financial advisor concerning the acquirement.

The company added, "OTE sees significant growth potential for Greek pay TV services, to the benefit of consumers. OTE believes the intended agreement will be beneficial to all involved parties and is consistent with the group's strategic priorities".