Cyfrowy Polsat offers PLN100m payout to smooth the way for Polkomtel deal

27 Jan 2014

Polish media group Cyfrowy Polsat may pay a dividend of PLN100 million (USD31.94 million) in return for the support of its minority stakeholders in its planned takeover of local cellco Polkomtel, Reuters reports. Cyfrowy is looking to take control of Polkomtel via a share issue worth PLN6.15 billion, under a planned strategy to merge the two operations put forward by Polish billionaire Zygmunt Solorz-Zak, who currently controls both companies. A number of minority stakeholders have delayed the deal, questioning Polkomtel’s valuation. Solorz-Zak had hoped to win over the minority shareholders by signalling a possible dividend for Cyfrowy Polsat in 2015 rather than 2016, but their continuing reluctance has forced the tycoon to sweeten the deal, offering a payout of PLN100 million on the condition that the stakeholders agree to the acquisition of Metelem – the holding company that currently owns Polkomtel.

Poland, Cyfrowy Polsat, Plus (Polkomtel)