Forthnet lands EETT contract

Athens-listed telecom Forthnet on Thursday won the tender of the Hellenic Telecommunications and Post Commission (EETT) to be Greece's universal service provider, for a maximum amount of 4.93 million euros per year payable by the state.

This means that the company is undertaking to supply fixed telephony local network access and voice call services in 100 percent of the country.

It will do so via satellite broadband.

Rivals OTE (landline) and Cosmote (mobile network) withdrew from the process.

Forthnet, whose new convertible bond will be traded from Friday until October 3, will now have to declare whether it will undertake the contract for three or for five years, and whether it wishes to wait until January 1, 2017 or start supplying the service earlier.