Poland-based investment advisory holding Powszechne Towarzystwo Inwestycyjne (PTI) plans to acquire a 33.86% stake in Hawe, owner of Hawe Telekom.
PTI has signed letters of intent with Hawe’s two largest shareholders, Trinitybay Investments and Marek…
Poland-based investment advisory holding Powszechne Towarzystwo Inwestycyjne (PTI) plans to acquire a 33.86% stake in Hawe, owner of Hawe Telekom.
PTI has signed letters of intent with Hawe’s two largest shareholders, Trinitybay Investments and Marek Falenta, to open talks on the purchase of all their shares in the telecoms firm, according to a stock exchange filing.
Trinitybay has a 26.13% stake in Warsaw-listed Hawe, while Falenta has a 7.73% interest.
The selling price is expected to be about PLN3 (US$0.86) per share, which would value the 33.86% stake at about PLN108.92m (US$31.33m).
At the time of writing, Hawe’s shares were up 8.21% to PLN2.24 (US$0.64) each.
The letters of intent are valid until 31 March 2015.
Hawe Telekom uses its fibre optic network to provide telecoms services to other operators, including mobile, fixed-line, cable and internet providers.
Last month, Hawe reportedly made a preliminary bid for TK Telekom, the telecoms unit of state-controlled railway company PKP. At the time, a Hawe spokesperson declined to comment on the topic due to a non-disclosure agreement.
PKP expects to complete the sale of TK Telekom by the end of the first half of 2015.