ITI continues to ponder how to finance TVN share purchase

Despite earlier announcements, ITI Holding has still not decided how to finance the purchase of a 30.4% stake in television channel TVN from SBS. The company might have a problem, as it has to find zł. 584 million to close the deal by December 31. ITI was considering issuing bonds or selling new or existing shares to the public. Paweł Kosmala, deputy president of ITI Corporation, one of the Holding's subsidiaries, declared that all of the options are being equally considered. He has however, admitted that a public offering was the least likely due to the fact that Securities and Stock Exchange Commission would have to first accept an issue prospectus, which is a time consuming process. "One of the other possible solutions is a secondary offering - selling stock to the public and issuing new shares from the position of the company already listed on the Warsaw Stock Exchange," explained Kosmala. Moreover, ITI is not giving up the idea of acquiring a strategic investor. (Puls Biznesu, pp. 1, 5) M.M.