Locked content Netia appoints Andrzej Abramczuk as CEO

Netia’s supervisory board appointed Andrzej Abramczuk as the new CEO as of August 18, the company said in a statement. Abramczuk has been a board member at Netia since December 2017. Back in May Katarzyna Iwuć resigned from the CEO post. The supervisory board then named Wojciech Pytel the acti...

Locked content Netia’s CEO resigns

Katarzyna Iwuć has tendered her resignation as CEO of telecom Netia, the company stated. Wojciech Pytla, a member of the company’s supervisory board has become an acting CEO for up to three months. Iwuć did not give a reason for her resignation. CTO of Netia, Stefan Radzymiński also handed in his re...

Locked content UOKiK approves Netia’s acquisition by Cyfrowy Polsat

Poland’s antitrust watchdog UOKiK has approved WSE-listed telecom group Cyfrowy Polsat takeover of another listed operator Netia. Currently, Cyfrowy Polsat owns an approx. 32 percent stake in Netia. It will acquire further 34.24 percent (119.3 million shares),  receiving a controlling interest. Cyfr...

Locked content Netia’s EBITDA down 3.5% y/y in Q1

Telecom Netia posted EBITDA for the first quarter 2018 of PLN 91.7 million, 3.5 percent lower than in Q1 2017, the company stated in a market filing. Adjusted EBITDA came in at PLN 90.7 million, marking a 6.1 percent drop y/y. Revenue amounted to PLN 346.9 million, a 5 percent decline y/y….

Locked content Netia with Q4 loss

WSE-listed telecommunications firm Netia reported a PLN 6 million net loss Q4 compared with PLN 2.38 million profit last year. Revenues dropped by 3 percent to PLN 360.58 million. EBITDA amounted to PLN 91.9 million, down by 9.6 percent y/y. In 2017, the company had PLN 35.5 million, up from PLN 32....

Locked content Cyfrowy Polsat extends tender Netia shares

WSE-listed media group Cyfrowy Polsat extended its tender offer for shares of listed telecom Netia to April 9, as the antitrust watchdog UOKiK sent the case has been entered into the second phase of the proceedings, reserved for more complicated cases. Subscriptions originally were to have ended Mar...

Locked content Cyfrowy Polsat’ Netia takeover under UOKiK scrutiny

The antitrust watchdog UOKiK has extended antimonopoly proceedings on the WSE-listed telecom group Cyfrowy Polsat takeover of another listed operator Netia. The case has been entered into the second phase of the proceedings, reserved for more complicated cases. UOKiK now can conduct, among others, m...

Locked content Netia can book PLN 150.7 mln impairments

WSE-listed telecom operator Netia can include PLN 150.7 mln asset impairment in its 2017 financial results, the company said in a market filing. According to the report, after conducting analyzes and consultations with the auditor, Netia’s management decided that the application of the market ...

Locked content Cyfrowy Polsat announces tender offer for 34,24% Netia stake

WSE-listed telecom Cyfrowy Polsat announced a tender offer for 119.35 million Netia shares, representing 34.24 percent stake at PLN 5.77 apiece. The shares will be bought by Polsat’s owner Zygmunt Solorz investment firm Karswell (84.69 million) and Cyfrowy Polsat. The tender will run through January...

Locked content Cyfrowy Polsat to buy 32% of Netia shares

Cyfrowy Polsat has placed a purchase order for some 32 percent of Netia shares from Mennica Polska and FIP 1 FIZAN for a total of PLN 638.8 million, placing the share value at PLN 5.77. The company wants to increase its share in Netia’s AGM votes to 66 percent in early 2018. Cyfrowy Polskat expects&...