Polish investment advisory holding Powszechne Towarzystwo Inwestycyjne (PTI) has abandoned plans to buy a 33.86% stake in Hawe, owner of fibre operator Hawe Telekom.
Last December, PTI said it had signed letters of intent with Hawe’s two largest…
Polish investment advisory holding Powszechne Towarzystwo Inwestycyjne (PTI) has abandoned plans to buy a 33.86% stake in Hawe, owner of fibre operator Hawe Telekom.
Last December, PTI said it had signed letters of intent with Hawe’s two largest shareholders, Trinitybay Investments and Marek Falenta, to open talks on the purchase of their shares in the telecoms firm.
Following the expiration of the letters of intent yesterday, PTI said in a stock exchange filing that talks failed as the parties were unable to agree on the terms of the planned transaction.
The investment firm added that it does not intend to pursue the matter.
The selling price had been expected to be about PLN3 (US$0.86) per share. At the time of writing, Hawe’s shares were down 2.94% on the Warsaw Stock Exchange to PLN1.98 (US$0.53) each.
Hawe Telekom uses its fibre optic network to provide telecoms services to other operators, including mobile, fixed-line, cable and internet providers.