Greece's OTE has made an offer for pay TV provider Nova worth €250 million-€300 million.

The telco said in a short statement that it sees the growth potential in the pay TV sector and believes that a takeover of the company would be advantageous for both parties.

The deal is subject to the approval of the relevant authorities, the telco said.

Nova is owned by Greek Internet service provider Forthnet. Forthnet confirmed OTE's offer, but did not provide any further details.

OTE is not the only company interested in Forthnet and its assets. Earlier this month the ISP revealed that Vodafone had acquired a call option that would enable it to acquire a 13.25% stake in Forthnet from fellow shareholder Wind Hellas; exercising the option would raise Vodafone's stake to 19.75%.

According to local press reports, both Vodafone and Wind are keen to buy out another stakeholder, Emirates International Telecommunications (EIT), which holds 44%. The companies plan to work together to achieve their goal, according to Athens-based newspaper Kathimerini.