Shareholders in Multimedia Polska have decided to retain their stake in the company, according to a statement from the Polish cable provider today.
The announcement comes after a strategic review of the company by JP Morgan, which led the stakeholders…
Shareholders in Multimedia Polska have decided to retain their stake in the company, according to a statement from the Polish cable provider today.
The announcement comes after a strategic review of the company by JP Morgan, which led the stakeholders to conclude that they should continue Multimedia Polska’s current growth strategy and drop plans to sell the shares.
The company said that it expects an increase in subscribers, revenues and profits and continues to invest in further development of its service offerings.
The decision comes after speculation that the company had attracted interest from a number of investors, including PE firms Permira and Cinven, Liberty Global’s UPC subsidiary, and at least one additional strategic player.
Earlier estimates had put a price tag of between €700m and €800m on Multimedia.
M2 Investments, a subsidiary of US-based YTD LLC, has a 46.56% stake in Multimedia Polska while Tri Media Holdings and UNP Holdings, both controlled by Cyprus-based EVL, hold stakes of 24.29% and 10.43% respectively.
