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The Warsaw Voice » Business » December 6, 2017
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Cyfrowy Polsat with series of takeovers
December 6, 2017   
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Tobias Solorz
Media and telecom group Cyfrowy Polsat will buy a ca. 32% stake in listed telecom Netia from two lead Netia shareholders for a total of PLN 638.8 million and will launch a tender offer to reach no more than a 66% stake, the company said in several market filings and a press statement. Cyfrowy Polsat expects some PLN 800 million worth synergies in 2019-2023 from taking over a 66% stake in telecom Netia, Cyfrowy Polsat said in a press statement.
Cyfrowy Polsat would like to announce a tender offer for Netia telco to raise its stake to 66% as soon as possible and could consider increasing the stake to 100% in the future, company officials told an analyst teleconference.
Cyfrowy Polsat for the time being maintains its dividend policy, CEO Tobias Solorz told an analyst teleconference on Netia telco's takeover.
Cyfrowy Polsat bought 100% of shares in the companies owning Eska TV, Eska TV Extra, Eska Rock TV, Polo TV and Vox Music TV channels and 34% of shares in a firm owning Fokus TV and Nowa TV channels in a deal worth ca. PLN 103 million, the company said in a press statement.
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