Enterprise Investors to re-enter Warsaw cable TV operator

The second largest cable television operator, Aster City, is a step away from gaining an investor. Due diligence was completed last Monday and offers from potential investors were sent in. The company who seems the most likely buyer is Enterprise Investors (EI), which is the largest venture capital fund in the country. "EI has very high bargaining power, mainly because of it's cash reserves. EI has previously been an owner of Aster City. Perhaps because of its precise knowledge about the company, EI could present the best offer," claimed a source quoted by Puls Biznesu. The value of the cable TV operator is estimated at zl. 400 million. EI currently has nearly zl. 500 million which it is looking to invest, but it does not tie large sums on single projects. Therefore, if it wins the tender, it will have to create a consortium to close the deal. Besides EI, other potential investors are, Advent International, one of the world's largest venture capital funds, Vectra and Multimedia, two separate cable TV operators from Gdynia with 394,000 and 360,000 subscribers respectively. (Puls Biznesu, p. 9) A.K.