Novator plans to gain strategic control over Netia

Initially the fund declared its will to purchase 25% of Netia's shares, while later it was rumored that they want a larger stake, nearer to 33%. Market observers speculate on the reasons behind this change of mind as it is enough for Novator to own 22.3% to become the operator's largest shareholder. Some experts say this might be due to Novator's plans to take effective control over the fixed-line operator and create a company that would provide convergent services. Others believe that the fund wants to gain a very strong position in Netia's management board in order to influence its strategic decisions. Meanwhile, Novator's representatives claim, "There is no formal plan to acquire a larger share, although we have permission to do this," said Constantine Gonticas, a partner with Novator. (Parkiet, p. 4) D.W.