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 30-March 5 and is conditional to antitrust watchdog UOKiK’s approval. On Monday, Cyfrowy Polsat announced that it will buy a 32 percent stake in Netia from Mennica Polska and FIP 1 FIZAN for PLN 339 million. Cyfrowy Polsat announced that it is not planning dividend payouts by Netia if the takeover goes through. It also said it will keep its TV and B2B businesses.