Softbank ends take over talks with Gladstone, but delays signing final contract

The purchaser postponed the date of signing the contract, which was supposed to take place at the end of August. The preliminary agreement concerning the acquisition was signed already in Q2. The price of the 51% stake was set at zł.48 million, but later its value dropped to zł.31 million. In order to collect the money necessary to finance the purchase, Softbank sold 1.4 million new shares to investors in June, which raised zł.33 million. "The delay does not mean that any problems have appeared or that we cannot come to an agreement. We are just still in the process of collecting the necessary documentation," said Piotr Jeleński, a member of Softbank's management board who is responsible for financial issues. According to him, all the details of the transaction have already been decided upon. The deal will most probably be signed by the end of September. (Parkiet, p. 5) A.F.