The management board of media company TVN is considering a share buy-back programme in the magnitude of PLN 500mn (
The firm's CFO
The management has also proposed - and the supervisory board has approved - a
At the end of 2013, TVN's net debt was PLN 2.18bn, with a net debt/ adjusted EBITDA ratio of 4.3x. The firm explained that the y/y increase in both net debt and its ratio to adjusted EBITDA reflects the make-whole premium on the refinanced bonds, as well as the slight weakening of the PLN versus the EUR. At the same time, Driscoll pledged that in the middle term, TVN could lower the ratio to 3.5x.
TVN is the leading media group in
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