Emirates International Telecommunications (EIT) and GO plc, announced today that they have together acquired 21% of Forthnet, a dynamic and fast-growing competitive telecommunication company in Greece that trades on the Athens Stock Exchange. Forthnet is the largest alternative broadband operator in Greece, with a market share of approximately 20%. EIT is also a majority shareholder in GO plc.

SThe value of the acquisition was 93 million Euros (approximately equal to AED 500 million), making the EIT/GO joint venture the largest shareholder in the Greek alternative fixed line operator.

Deepak Padmanabhan, CEO of EIT said: “EIT is executing on its plan of investing in the telecoms sector internationally, and will deliver superior returns by deploying an active management model, and through combining the capabilities of financial investors with the strategic thinking and sector expertise of a telecoms operator.

http://www.eyeofdubai.com/v1/news/newsdetail-18404.htm

http://www.zawya.com/Story.cfm/sidZAWYA20080215083952/SecMain/pagHomepage/chnAll%20Regional%20News/obj2A17E941-F5E0-11D4-867D00D0B74A0D7C/

http://www.middleeastevents.com/site/index.asp http://blog.myadhan.com/2008/02/15/emirates-international-telecommunications-eit-and-go-plc-acquire-21-of-greek-telecom-operator-forthnet-for-aed-500-million/

http://www.ameinfo.com/146996.html http://www.arabianbusiness.com/press_releases/detail/12440?ln=en