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ITI Group considers TVN sale
07.56 Europe/London, July 8, 2011 By Chris Dziadul
Poland’s ITI Group has reacted to press speculation by announcing that, along with its financial advisors J.P. Morgan and Nomura, it is “reviewing its strategic options” on the controlling (56%) stake it holds in TVN. The sale of TVN, whose interests include 10 TV channels and the DTH platform n, would attract a number of leading international media groups keen on entering the lucrative Polish market.
They are likely to include Time Warner (CME, in which it holds a stake, helped launched TVN in the 1990s before exiting the market); Bertelsmann (RTL Group); Rupert Murdoch’s Fox Entertainment Group (which formerly was a shareholder in TV Puls before also exiting the Polish market); and Modern Times Group.
Another, though possibly less likely, candidate could be Vivendi, which already owns the DTH platform Cyfra+ in Poland.
Commenting on any proposed sale, the local business publication Parkiet said that TVN could be valued at up to PLN6.8 billion (€1.72 billion), or PLN1.5 billion more than the figure quoted yesterday (July 7) on the Warsaw Stock Exchange.
07.56 Europe/London, July 8, 2011 By Chris Dziadul
Poland’s ITI Group has reacted to press speculation by announcing that, along with its financial advisors J.P. Morgan and Nomura, it is “reviewing its strategic options” on the controlling (56%) stake it holds in TVN. The sale of TVN, whose interests include 10 TV channels and the DTH platform n, would attract a number of leading international media groups keen on entering the lucrative Polish market.
They are likely to include Time Warner (CME, in which it holds a stake, helped launched TVN in the 1990s before exiting the market); Bertelsmann (RTL Group); Rupert Murdoch’s Fox Entertainment Group (which formerly was a shareholder in TV Puls before also exiting the Polish market); and Modern Times Group.
Another, though possibly less likely, candidate could be Vivendi, which already owns the DTH platform Cyfra+ in Poland.
Commenting on any proposed sale, the local business publication Parkiet said that TVN could be valued at up to PLN6.8 billion (€1.72 billion), or PLN1.5 billion more than the figure quoted yesterday (July 7) on the Warsaw Stock Exchange.