Cyfrowy Polsat shareholders seek exit
June 20, 2011
By Chris Forrester
Polish DTH operator Cyfrowy Polsat is facing a changeover of shareholders. Two existing major stakeholders, Zygmunt Solorz-Zak and Hieronim Ruta, are seeking to reduce their holdings, although Solorz-Zak is planning to remain as the platform’s major shareholder. The news emerged in a formal Polish stock-exchange filing.
Solorz-Zak would be satisfied with the current share price on the Warsaw Stock Exchange. “The sum we want to raise is more or less similar to the current market price,” he said.
A potential sale would be conducted by Deutsche Bank, Credit Agricole CIB and Trigon, and other shareholders will be give first refusal to buy the stock on offer. The news will certainly have a negative impact on Cyfrowy Polsat’s share price in the short term, ING Analyst Andrzej Knigawka told the Polish News agency PAP.
Solorz-Zak is known to be seeking an investment in telco Polkomtel.