Netia’s purchase of TK Telekom approved by competition body

10 Jul 2015

Polish alternative telco Netia says that the country’s Office of Competition and Consumer Protection (UOKiK) has approved its proposed acquisition of 100% of the shares in backbone network provider TK Telekom from Poland’s national rail operator PKP Group. In a statement on its website, Netia said that as a result of the clearance ‘the Management Board of Netia informs that conditions concerning the material preliminary agreement concluded between the issuer as the buyer and PKP as the seller, resulting in an obligation to conclude the promised agreement to sell 100% shares in the company TK Telekom, have been fulfilled’. Netia signed a preliminary agreement to acquire TK Telekom earlier in May, with the PLN221 million (USD58 million) transaction to be financed via available credit lines. TK Telekom owns and operates a transmission network consisting of nearly 30,000km of cabling, connecting more than 300 towns nationwide.

Poland, Netia, TK Telekom