UOKiK approves buy of Netia by Cyfrowy Polsat

Poland’s antimonopoly watchdog UOKiK has approved WSE-listed telecom group Cyfrowy Polsat takeover of another listed operator Netia. Currently, Cyfrowy Polsat owns about 32 percent of stake in Netia. It will acquire further 34.24 percent (119.3 million shares),  receiving a controlling interest. Cyfrowy Polsat will acquire up to 34.7 million Netia shares, and up to 84.7 million will be bought by Karswell Limited.Karswell Limited is owned by Zygmunt Solorz, which holds majority stake in Cyfrowy Polsat.