TP SA sells Emitel to Montagu for USD599 million

Telekomunikacja Polska (TP SA) has announced that it will sell its subsidiary Emitel, the country’s leading transmitter of radio and TV signals, for PLN1.7 billion (USD599 million) to the Montagu private equity fund. The deal, which still has to be approved by regulators, is part of TP Group’s strategy of divesting itself of non-core assets. ‘This agreement is in line with TP Group’s strategy of streamlining our business,’ said Maciej Witucki, chief executive of TP SA.