TVN, Vivendi To Keep Stakes In Polish Pay-TV Operator -Reuters
February 15 2012 - 6:39AM
Dow Jones News
Polish broadcaster TVN SA (TVN.WA) and French entertainment
group Vivendi SA (VIV.FR) are planning to hold on to their stakes
in the pay-television joint venture they have agreed to create, TVN
Chief Executive Markus Tellenbach said, according to a Reuters
report Wednesday.
TVN and Vivendi in December agreed to form a joint venture
comprising their Polish pay-TV units. The new company's majority
shareholder will be Vivendi's pay-TV subsidiary Canal Plus, with a
51% stake, followed by TVN with a 32% stake and local cable TV
company UPC with 17%.
Telekomunikacja Polska SA (TPS.WA), Poland's largest
communications company, said in October last year it would be ready
to consider a pay-TV partnership if approached.
Tellenbach acknowledged TPSA's interest, but said the joint
venture wasn't for sale at the time.
"We do not plan to cut our 32% stake in the future platform," he
is quoted as saying. "And Canal Plus is also not interested in
cutting its 51% stake. So it all boils down to who the seller would
be."
Agency website: www.reuters.com
-Warsaw Bureau, Dow Jones Newswires; +48 22 447 2432
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