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Polish media group Cyfrowy agrees EUR 1.48bn share swap to buy mobile operator Polkomtel

January 21, 2014

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.


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Source: IntelliNews - Weekly Reports


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