GO plc - OTE bids for Forthnet’s NOVA

Tuesday, July 1st, 2014

On 1 July, GO plc replicated an announcement by Forthnet S.A. revealing that OTE S.A. (the incumbent telecoms operator in Greece) has submitted a non-binding offer to acquire the NOVA pay-tv platform of Forthnet for a consideration ranging between €250 million to €300 million, on a debt free/cash free basis (i.e. excluding net debt). The announcement further explains that the offer is based on certain assumptions and is subject to terms and conditions, customary to such transactions.

The Board of Directors of Forthnet S.A. noted that it will evaluate the offer and inform the investing public accordingly.

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