Poland’s Hawe Group has announced a tender offer for the shares it does not already own in Mediatel as the telecoms unit loses its supervisory board chairman.
Warsaw-listed Hawe said in a stock exchange filing that it aims to acquire about 10.18…
Poland’s Hawe Group has announced a tender offer for the shares it does not already own in Mediatel as the telecoms unit loses its supervisory board chairman.
Warsaw-listed Hawe said in a stock exchange filing that it aims to acquire about 10.18 million Mediatel shares, equal to a 1.56% stake, in a tender. Hawe already owns the other 98.64% of shares.
Hawe will offer PLN0.86 (US$0.27) per share and the tender period runs from 6 October to 4 November and the transaction itself will take place on 7 November, a Hawe spokesperson confirmed.
Hawe announced last December that it would merge Mediatel with another subsidiary, Hawe Telekom, the aim being to consolidate its telecoms operations within Warsaw-listed Mediatel.
As part of the merger process, Mediatel issued about 1.05 billion new shares to Hawe, enabling it to boost its stake from 65.97% to its current 98.64%. Hawe is required under Polish takeover law to launch a tender offer for the remaining shares.
Chairman resigns
Meanwhile, Mediatel supervisory board chairman Krzysztof Witon has resigned from the position, the Hawe spokesperson confirmed. However, the spokesperson was unable to say when a replacement would be appointed.
Witon was also CEO of Hawe but the company announced last week that he had been replaced by Piotr Kubaszewski.
Mediatel offers integrated telecoms services, including remote and fixed-access services, voice communications and internet-related IT services.
Hawe Telekom provides telecoms services to carriers and ISPs and owns and operates an optical fibre network.
