Scripps intends to buy all TVN shares in one call

Scripps Networks Interactive (SNI), which has signed a deal to purchase a controlling stake in TVN, is going to call on the rest of the shareholders to sell it the remaining shares all at once, Parkiet daily reported on Wednesday citing the American company. "We want to do it in one shot, but this will depend on whether investors are interested in selling us the shares at the proposed price," SNI's development director Joseph NeCastro told the daily. "We already have the price that we want to propose and if investors don't accept it we will buy only the shares we can, and then decide what to do next," he added. The purchase of a 52.7 percent stake in TVN has to be approved by the Polish watchdog. Scripps is required to launch a tender to raise its stake to at least 66 percent within three months of completion of the transaction. The firm said it intends to acquire all the remaining shares and delist TVN from the Warsaw bourse, however investors were not sure if  SNI would do it in one call.