Emirates International Telecommunications

By Vangelis Mandravelis

OTE, Greece’s dominant telecoms company, announced on Tuesday it has submitted a non-binding proposal to alternative fixed-line operator Forthnet for the acquisition of its market-leading pay-TV platform Nova for 250-300 million euros.

Greek telecoms company OTE said it was in preliminary talks with the main shareholder of a small rival, Forthnet, to buy its subscription television operations.

OTE's move comes two weeks after its biggest domestic rival Vodafone acquired an option to increase its 6.5 percent stake in Forthnet to 19.75 percent.

Local mobile networks Vodafone and Wind Hellas have forged a common front against Emirates International Telecommunications (EIT), the biggest shareholder at Greece’s main alternative fixed-line service operator Forthnet. Instead of battling each other for control of the operator, they are now joining forces to get full control of the company, which also owns pay TV platform Nova.