ITI looks for ways to raise capital to buy back shares

Shareholders of ITI Holding are looking for an investor, which would help them to buy back 30.4% shares worth roughly $130 million of their television channel TVN from SBS. In exchange they propose that the investor either would take over ITI's planned bond issue, their stake in BRE Bank, or eventually part of ITI shares owned by Jan Wejchert/Mariusz Walter. According to a Puls Biznesu source, another option could be to sell a 60% stake in the Holding, but shareholders exclude the possibility of losing control over the company. "I do not know anything about such plans and I think it is not likely," said deputy president of ITI Corporation Paweł Kosmala. He admitted that the company was looking for an investor. After buying back shares from SBS, ITI could take the loan guaranteed by the shares in TVN, which would help finance the enormous financial needs of the Holding. (Puls Biznesu, pp. 1, 6) M.M.