Forthnet, Greece’s largest pay-TV provider, is speeding up talks with creditors on refinancing, according to CEO Panos Papadopoulos.

The company, which is the subject of two separate bids from Deutsche Telekom and Vodafone is considering issuing a €100 million convertible bond, Papadopoulos revealed in an interview.

“For the last few weeks, we have been in discussions with the banks based on our revised proposal and we hope to reach an agreement soon,” he commented.

Forthnet, which last week signed the extension of an agreement to air the Greek football championship until 2019, is in talks with Greece’s three biggest banks for a plan to refinance its debt by issuing bonds.

The company’s net debt stood at €324 million in short- term borrowings at the end of 2014. Its shares have fallen 11 per cent so far this year, giving it a value of €87.9 million.

Forthnet will announce first-quarter earnings at the end of May. The company’s top priority remains securing its short-term cash flow and its financing, said Papadopoulos.

Other posts by :

1. IRIS2 free for government usage?
2. Bank: AST SpaceMobile will orbit 356 satellites by 2030
3. SpaceX launches 600th rocket
4. Starlink: 10m customers and counting
5. SES predicts end of ‘big’ Geo satellites
6. Amazon Leo gets approval for 4,504 extra satellites
7. SpaceX gets a portion of India
8. TerreStar wants to build LEO network
9. Musk: “No Starlink phone”

Categories: Articles, Broadcast, Business, M&A, Pay TV