Dubai Holding unit Emirates International Telecommunications (EIT) and Malta-based affilate GO have increased their stake in Greece’s broadband operator Forthnet to 34 percent from 21 percent, the company said on Saturday.
The move takes the total investment in Forthnet to 1.1 billion dirhams ($300 million) and was made through their special purpose joint venture Forgendo, EIT said in a statement
GO is 60-percent owned by EIT.
The initial investment earlier this year allowed Forthnet to purchase NetMed, which owns the NOVA brands in Greece and Cyprus, the only premium pay TV operators in their respective markets, EIT added.
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