Icelandic millionaire's bid for stake in Netia gets frosty reception from analysts

This is an initial phase in planned future investments. The fund is set to increase its share in Netia to 23%. The information was a surprise to market analysts. "Financial investors have a more than 20% stake in Netia, therefore 23% does not guarantee Novator control over the company. Therefore, this investment decision is incomprehensible to me," said Krzysztof Kaczmarczyk from DB Securities. In the bid for the 13.01% stake, Novator is offering zł.6.15 per share, which is 8% more than the closing price on Friday on the Warsaw Stock Exchange. Constantine Gonticas, managing director at Novator, revealed that the reason behind the decision was the desire to increase involvement on the Polish market, as well as an effect of the six-month long cooperation on the UMTS network. (Puls Biznesu, p. 12) A.K.