United Group B.V. made an offer to acquire remaining 20.48% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) for €15.9 million on November 24, 2020. Under the terms, United Group will take over the remaining 52.9 million shares at €0.3 per share. The transaction, If United Group acquires at least 90% of the ordinary shares of Forthnet at the completion of the mandatory tender offer, it will eventually acquire a 100% stake in the company, through a combination of acquisitions in the mandatory tender offer and/or right to squeeze out any remaining shareholders in accordance with the relevant laws and regulations. The tender offer acceptance starts from February 1, 2021 to March 1, 2021. The transaction is approved by Hellenic Capital Market Commission on January 27, 2021. As of February 2, 2021, the tender offer commenced. The transaction is expected to be completed in Q1, 2021. Piraeus Financial Holdings S.A. acted as financial advisor to United Group. Ambrosia Capital Ltd acted as financial advisor to Hellenic Company for Telecommunications and Telematic Applications S.A. United Group B.V. completed the acquisition of remaining 20.48% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) on March 1, 2021. As of March 3, 2021, upon completion of the transfer of offered shares, United Group directly and indirectly holds 332,668,582 Shares representing approximately 96.83% of Hellenic. United Group intends to initiate a squeeze-out to acquire the remaining shares in Hellenic Company for Telecommunications and Telematic Applications, which is expected to close in May 2021. After the expiration of the Acceptance Period of the Tender Offer and up until March 8, 2021, the Offeror acquired 260,147 additional shares, representing a percentage of approximately 0.075% of the total paid up share capital and voting rights of Hellenic Company. Following which, the Offeror by its written request to Hellenic Capital Market Commission for the approval of the exercise of the squeeze-out right of the remaining shares of Hellenic Company at €0.3 per share. as on April 29, 2021, United Group completed the squeeze-out to acquire remaining stake in Hellenic Company. United Group now holds 100% stake in Hellenic Company for Telecommunications and Telematic Applications S.A.