Greece’s alternative telcom and ISP provider Forthnet said it has submitted a binding offer for pay TV operator NetMed NV for an unspecified amount.

NetMed is the parent company for several companies, including NetMed Hellas and Multichoice Hellas, which provide pay TV services in Greece and Cyprus.

The price is expected to be agreed on after the conclusion of the due diligence process, said Forthnet.

Recently, GO plc and Emirates International Telecoms Malta Limited (EITML) acquired a 21 per cent stake in Forthnet.