Greek telecoms company OTE submitted a non-binding offer of 250 million to 300 million euros to acquire Nova, Forthnet’s pay TV operations.

“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,” OTE said.

This means that a) the bid depends on the overall adjustment which banks are called to implement for the Forthnet debt and for which OTE aims to achieve a haircut and b) it wants to purchase only the specific activity.

OTE sources mentioned to Newmoney.gr that “OTE believes that the intended agreement will be beneficial to Forthnet group in order to cover its financial needs and continue seamlessly with the rest of its activities.