EIT increases stake in Greece's Forthnet to 34%

Dubai: Emirates International Telecommunications (EIT) and GO of Malta increased their stake in Greece's broadband operator Forthnet to 34 per cent, taking the total investment value to Dh1.1 billion.

The stake increase follows the acquisition by Forgendo of a 21 per cent stake in Forthnet earlier this year.

This investment allowed Forthnet to purchase NetMed, creating the first converged pay TV and broadband player in Greece.