Forthnet Acquires DTH Businesses
[Satellite Today – 4-15-08] Greek telco Forthnet has acquired Netmed, which owns satellite pay-TV companies Netmed Hellas and Multichoice Hellas, Forthnet announced April 14.
Forthnet acquired Netmed from Myriad International Holding (MIH), a subsidiary of South African company, Naspers. Forthnet is spending 490 million euros ($772.8 million) on the acquisition.
Netmed Hellas is based in Cyprus and Multichoice Hellas in Greece. Greece has a population of just under 11 million people and Cyprus has a population of around 800,000 people. Merrill Lynch has been advising Forthnet as regards the acquisition. The deal is subject to shareholder approval.