Following local reports that satellite broadcaster Polsat was mulling an acquisition of its DTH rival Cyfra+, Polsat’s owner Zygmunt Solorz-Zak has moved to quash the speculation. Solorz-Zak argued that there was no basis for the rumours and that the two…
Following local reports that satellite broadcaster Polsat was mulling an acquisition of its DTH rival Cyfra+, Polsat’s owner Zygmunt Solorz-Zak has moved to quash the speculation. Solorz-Zak argued that there was no basis for the rumours and that the two companies continue to compete.
Cyfra+ is currently owned by French media and telecoms group Vivendi and is the second largest DTH service provider in the country behind Polsat’s Cyfrowy Polsat. Separately, Polsat is set to begin its planned share buyback programme on June 4. The share buyback programme has a deadline of June 18 and the firm has called for the repurchase of 20% if its shares. UniCredit CAIB Poland is overseeing the share buyback programme.
The move follows the board of Polsat recently approving a dividend of PLN152m (US$45.7m), which amounts to 66.5% of the company’s 2009 net profit.
