TVN to leave Warsaw bourse

American media group Scripps Networks Interactive informed it is going to make a tender offer for all shares of Polish broadcaster TVN and delist it from the Warsaw Exchange Stock eventually, the domestic and the international media reported on Wednesday. The company purchased in March a 52.7 percent controlling stake in TVN from financial holding ITI and French media firm Vivendi's Canal+. The deal valued at €584 million (roughly $1.84 billion). TVN's shares closed at PLN 17.62 on Tuesday, Reuters pointed out. In line with the Polish law, Scripps is required  to launch a tender to increase its stake to at least 66 percent within three months of completion of the stake purchase. The American company said on Tuesday that it is going to put on sale the remaining public ownership in TVN, and withdraw it from the WSE. However, Scripps did not set a price for the offer.