Vectra submits fresh offer for Netia stake

23 Jul 2014

Reuters writes that Polish cableco Vectra has increased its bid for a 33% stake in triple-play provider Netia to PLN5.41 (USD1.76) per share. Under the offer, Vectra will pay PLN5.41 per share from 23-29 July and PLN5.11 per share from 30 July-5 August. The higher price values the company at around PLN1.882 billion, but is well below yesterday’s closing price of PLN5.56. 38% of Netia’s shares are currently in free float, and Vectra’s plan to purchase a 33% stake (114,810,555 shares, PLN621.13 million at the higher price) would make the cableco the largest shareholder by a sizable margin.

Poland, Netia, Vectra