United Group raises stake in Forthnet to almost 97% – Telecompaper

United Group BV increased its holding in Forthnet SA to 332.7 million shares, or 96.83% of Forthnet's total share capital vote, Telecompaper reported March 4.

This comes after a mandatory tender offer for the outstanding shares closed on March 1, according to the report.

In November 2020, United Group increased its stake in the Greek telco to about 80%. The Netherlands-based telecom company had initially agreed to acquire Forthnet's debts of approximately €281 million, Forthnet's convertible bonds worth about €52 million as well as a 36% stake in Forthnet in June 2020.