BC Partners lands Forthnet deal

The deal for the acquisition of a 33% stake in Forthnet between the BC Partners investment group and the creditor banks of the Greek telecommunications company was all but sealed on Friday, with the only issue still pending being the bridge funding of 15 million euros from the British group to Forthnet for the period until the acquisition is approved by the competition authorities.

Forthnet stems outflow
 of broadband subscribers

Telecommunications company Forthnet, whose creditors have entered into exclusive negotiations with BC Partners for the concession of its shares and debts, announced on Thursday that it had reversed the trend of previous years in which it registered a drop in in broadband subscriptions to post growth of 0.2 percent in 2019 to 550,967, while its pay-TV (Nova) subscribers in Greece and Cyprus fell

BC Partners is set to land Forthnet

Forthnet's creditors have entered into exclusive negotiations with BC Partners, whose subsidiary, United Group, has offered to acquire the Greek telecommunication company. In addition to obtaining Forthnet's shares from its creditors, this will also entail taking on its obligations and financing the company until the completion of the agreement. It has asked for nothing from the banks.

Internet use soars amid lockdown

Greece has seen an increase of at least 50 percent in internet use in recent days following the government's decision to restrict citizens' movements to slow the spread of the new coronavirus, according to officials at the Digital Governance Ministry who indicated however that telecommunications networks are handling the strain so far.

ATHEX: Small rise for stock benchmark as low turnover points to drop in interest

Investors appeared uninspired in what was a fairly quiet session at the Greek stock market on Thursday, with the few traders that could be bothered making select purchases. This took turnover back below the 50-million-euro mark while the benchmark kept to a very narrow range.