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Mergers and Acquistions News

Categories: Telecoms

November 16th 2010, 17:25PM

Cyfrowy Polsat, the largest provider of digital satellites in Poland, will acquire Polsat TV, the country's second largest TV station, for 3.75 billion zlotys (£810 million).

The acquisition makes Cyfrowy Polsat a fully-orchestrated media company, the Financial Times reported.

Zygmunt Solorz-Zak, who owns both firms, looks to be eyeing a move to the internet and will net approximately 85 per cent of the 2.6 billion zlotys that will be paid in cash, the newspaper said.

Dominik Libicki, chief executive officer of the company, was reported as telling Polish media that the acquisition means the firm will look to produce more original content and make a move for the internet market.

Mr Solorz-Zak is believed to be looking to invest money in Poland's infrastructure, which, the news provider said, "most analysts take to mean building up a high-speed internet network".

Recently, the Warsaw Business Journal reported that Poland's Office of Competition and Consumer Protection suspected some of the country's telecoms operators may be conspiring to form alliances, fining one operator, Era, 123 million zlotys.ADNFCR-1833-ID-800239515-ADNFCR

 

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