Zygmunt Solorz-Zak has increased his ownership in Cyfrowy Polsat, Poland’s leading pay-TV operator.
According to the company, he now holds, either directly or indirectly, 57.34% of the share capital and 65.97% of the total number of votes at its General Meeting.
The transaction initially saw the Cyprus-registered company Karswell Limited, which is controlled by Solorz-Zak, sell 16.58 million shares in Cyfrowy Polsat. However, Reddev Investments Limited, another Cypriot registered company, partly controlled by Solorz-Zak, then bought 21.04 million shares in Cyfrowy Polsat.
Solorz-Zak’s stake in Cyfrowy Polsat is now understood to be worth some PLN8.8 billion (€2.1 billion).
Solorz-Zak is the founder of Polsat, which was initially Cyfrowy Polsat’s parent company but is now part of Cyfrowy Polsat.
Polsat was one of the first national commercial broadcasters in the CEE region, launching a service, initially distributed by satellite, in the early 1990s.