GO plc - Increase in shareholding in Forthnet

On 23 December, Forthnet S.A. announced that its largest shareholder Forgendo Ltd (the joint venture company between GO and its majority shareholder Emirates International Telecommunications) increased its shareholding through an acquisition of a further 174,990 shares. These shares were acquired on 21 December for a total consideration of €104,854.01 (equivalent to €0.599 per share). Following this additional purchase of shares via the Athens Stock Exchange, Forgendo’s equity stake in Forthnet has increased from 40.74% to 40.85%.

So far during 2010 Forgendo acquired a total of 5,823,656 Forthnet shares for a total sum of €5,525,540 representing an average cost price of €0.949 per share. Forthnet’s closing price on the Athens Stock Exchange on 23 December was of €0.58.

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