Polsat postpones long-awaited IPO for yet another year

"We are not giving up the plans. I believe the offer is likely to take place at the beginning of next year," said Zygmunt Solorz-Żak, owner and head of Polsat's supervisory board. He claims that the company must prepare for the IPO and thus it is implementing SAP and international accounting standards. Moreover the firm does not need to enter the bourse to acquire capital and can afford to delay the whole process. According to analysts, this means that Polsat will have to give up plans related to market acquisitions, such purchasing television TV4, which is linked to Polsat. "Polsat is a wealthy company. If there are no acquisitions in sight, then additional funds are not necessary," said Michał Marczak from DI BRE Bank. According to preliminary estimates the company posted a net profit of zł.220 million in 2005. Other analysts claim that another reason for delaying the debut is the station's dropping viewership. (Puls Biznesu, pp. 1, 3) M.M.