United Group is ready to buy Forthnet loans, but sets terms

The signing of the sale contracts for 350 million euros of Forthnet’s loans from the creditor banks to United Group appears to be just a matter of days, banking sources tell Kathimerini.

This is also confirmed by sources at British equity fund BC Partners, which is United’s parent group.

What remains unclear is whether United will provide Forthnet with bridge funding, which is essential for the Greek telecommunications company as it needs liquidity of €35 million till the end of the year.

United appears to be offering working credit of €15 million, but only under certain conditions that according to some Forthnet management officials amount to the concession of executive competences.