Polish media group Cyfrowy Polsat has agreed to a PLN6.15 billion (USD2.01 billion) share issue to buy mobile provider Polkomtel in a share-swap deal, Reuters reports. Shareholders accepted a plan outlined by Polish billionaire Zygmunt Solorz-Zak to merge the two companies – both of which are controlled by the media mogul – to ease the group’s debt burden. The deal will see Cyfrowy purchase a controlling stake in Polkomtel’s holding company Metelem, giving the latter’s owners a 45.53% stake in the enlarged group. The European Bank for Reconstruction and Development (EBRD), a minority shareholder in Metelem, agreed to buy a 7.4% stake in the merged company. The deal is expected to be completed by mid-2014.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors