Polish media and telecoms group Cyfrowy Polsat has announced a deal to acquire a 32% stake in domestic telco Netia in a move which is designed to boost its converged fixed, mobile and pay-TV offering. Polsat will pay Netia’s two largest shareholders a total of PLN638.8 million (USD177 million) for the 32% share, while it also intends to announce a tender offer for another block of approximately 33% in the second stage of the transaction, though there are no plans to raise its ownership to above a level of 66%.
Tobias Solorz, President of the Management Board of Cyfrowy Polsat, commented: ‘To us Netia represents valuable infrastructure, attractive client base and entry point to an entirely new market. It is a potential amalgamation of two perfectly complementary businesses and a natural step in the development of our Group, one that will let us offer our existing and future clients new services and add attractive new elements to our package of integrated services available for all Poles.’
Netia controls a 20,000km backbone network, with fibre infrastructure in 48 Polish cities and access to around 2.5 million homes. The telco claims almost one million residential and business customers. Cyfrowy Polsat offers a range of pay-TV and internet services, while it is also active in the mobile market via subsidiaries Polkomtel and Aero2.