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 to achieve synergies from the merger of some PLN 800 million over 2019-2023. Netia’s share price stood at PLN 4.24 at Monday’s market close.