Cyfrowy Polsat will increase its stake in the country’s leading alternative telco Netia on October 2.
This will follow the acquisition of 58.71 million shares from Karswell Limited for PLN338.75 million (€79.1 million) plus PLN4.13 million remuneration for a transitional period. Cyfrowy Polsat will then own 221.40 million shares in Netia, equivalent to 65.98% of the company’s share capital.
Karswell Limited is registered in Cyprus and owned by Zygmunt Solorz-Zak, the founder and main shareholder in Cyfrowy Polsat and its daughter company Telewizja Polsat.
As previously reported by Broadband TV News, Cyfrowy Polsat obtained the approval of Poland’s competition authority (UOKiK) in May this year to take over Netia.