Shareholders in Poland's largest media group Cyfrowy Polsat have agreed to a PLN 6.15bn ( EUR 1.48bn ) share issue to buy mobile operator Polkomtel in a share-swap deal, Reuters reported. The shareholders accepted a plan outlined by Polish billionaire Zygmunt Solorz-Zak to merge the two companies – both of which are controlled by the media mogul – to ease the group's debt burden. The deal will make Cyfrowy owner of a 45.53% stake in the enlarged group. The deal is expected to be completed by mid-2014.
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Ex-BP Employee Settles Insider Trading Charges
- Venture Investments in U.S. Highest Since 2001
- Colo. Cleantech Program Calls for Entrepreneurs
- Unemployment Rates Down, Job Gains Up in March
- Hiring Fair for Veterans, Job Seekers
- VW Beetle Marks 65th Year in U.S.
- Recordings Reveal a Not-So-Nice Martinez: Editorial
- The Biebs Crashes Drake's Release Party