TVN expects deal to merge 'n' platform and Cyfra+ by end-year
September 17, 2012
Media group TVN expects it will be able to finalize the transaction of merging its digital platform 'n' with Canal+'s platform Cyfra+ "at the latest" by the end of 2012, TVN said in a market filing, commenting on the anti-trust approval of the deal.
"Works on merging 'n' and Cyfra+ will start right after the transaction is finalized in order to reach operating efficiency and planned synergies as soon as possible," TVN CEO Markus Tellenbach said in a press statement.
On Friday Poland's anti-trust body UOKiK gave green light to TVN, its shareholder ITI and French Canal+ to merge digital platform 'n' with Canal+'s platform Cyfra+.
In December TVN and Canal+ reached final agreement over merging their respective pay TV platforms 'n' and Cyfra+ with TVN to hold a 32% stake in the new platform 'n/C+'.