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Greek Media Takeovers

(GREEK NEWS AGENDA)   Greece’s second-biggest provider of web services Forthnet gained Naspers‘s Greek and Cypriot pay-TV unit NetMed NV, known for its subscriber satellite service Nova, for €490 million. Naspers is a multinational media company located in South Africa, with significant operations in Greece through NetMed. Forthnet S.A., was established in October 1995 by the Foundation for Technology and Research and Minoan Lines S.A. The company was listed on the main market of the Athens Stock Exchange in the year 2000. It was the first company to introduce the Internet in Greece and currently has a large portfolio of Internet services. Through this acquisition, Forthnet will be able to offer high-speed Internet, TV and phone services with nationwide coverage, while it turns into a considerable media company. Bloomberg: Naspers Plans Internet Purchases as Ad Growth Slows; Secretariat General of Information: About Greece, Telecommunications