Polish telecoms services provider Hawe has signed an agreement to take control of telecoms operator Mediatel.
The agreement will see Mediatel, controlled by Magna Polionia, issue up to 212 million new shares to Hawe at up to PLN2 (US$0.60) each, Hawe…
Polish telecoms services provider Hawe has signed an agreement to take control of telecoms operator Mediatel.
The agreement will see Mediatel, controlled by Magna Polionia, issue up to 212 million new shares to Hawe at up to PLN2 (US$0.60) each, Hawe said in a stock exchange filing. This translates to a total issue price of PLN424m (US$129.2m).
The new shares will be offered in exchange for a contribution in kind consisting of 100% of the share capital of Hawe’s subsidiary Hawe Telekom.
Warsaw-based Mediatel’s capital increase is set to take place on 27 June.
The deal, subject to due diligence and corporate and regulatory approvals, will see Mediatel’s total number of shares increase from 11.18 million to 223.8 million. As such, Hawe, also based in Warsaw, will control about 94.7% of the company. According to local media reports, Magna Polonia’s stake will drop to about 2.4%.
Hawe was not immediately available for further comment.
Earlier this year, Hawe in consortium with IT Polpager was in exclusive talks to acquire Polish state-owned railway company PKP’s telecoms unit TK Telekom. PKP suspended the sales process in February, saying received offers were unsatisfactory. At the time, PKP said it would resume the sales process within six months.