Polish telecoms company Mediatel has withdrawn from the tender for 95% of voice and internet operator Exatel.
Mediatel CEO Miroslaw Jansiewicz was quoted saying in Reuters that his company had withdrawn from the Exatel tender because the process lacked…
Polish telecoms company Mediatel has withdrawn from the tender for 95% of voice and internet operator Exatel.
Mediatel CEO Miroslaw Jansiewicz was quoted saying in Reuters that his company had withdrawn from the Exatel tender because the process lacked transparency and its financial partners were not accepted for due diligence. He reportedly added Mediatel had up to PLN1bn (E250m) in financing for the acquisition.
In response, Marek Szostek, vice president of the management board for development at power engineering company PGE, said in a statement: “It is with great surprise that PGE has received a decision of Mediatel S.A., one of the two entities qualified for the next stage in the process of selecting a new owner for Exatel S.A., to withdraw from the procedure. We have no doubts that the reason for this decision is ownership relations between Mediatel S.A. and another participant in the procedure – Netia S.A.”
PGE’s 95% stake in Exatel could reportedly be worth PLN700m (E175m). Final bids are due on 4 January. PGE is advised by PwC.
