According to local reports, Zygmunt Solorz-Zak, the owner of the Polish national commercial broadcaster Polsat, is planning up to two IPOs at the Warsaw Stock Exchange. The first, which is expected to take place before the summer, could bring in a record-breaking PLN1 billion (€258 million) for the sale of between 25-30% of shares in the DTH platform Cyfrowy Polsat. A second IPO, for 25% in Polsat itself, would take place in 2008 and also be expected to secure a similar amount. Money raised in the IPOs would automatically increase the value of Polsat and require Axel Springer to pay an additional amount to the €250 million it has already bid for a 25.1% stake in the broadcaster. (CD)
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