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Polsat to sell 53% of shares to Cyprus firms

FNE Staff 2008-07-24
Cyprus based companies Karswel Ltd. and Sensor Oversear Ltd. will purchase controlling interest in Polish commercial TV network Polsat.
According to a report in newspaper Gazeta Wyborcza, Karswell is owned by media tycoon Zygmunt Solorz, who led the decision to sell. The sale will result in lower taxes for the owners. An anticipated 25% of shares in Polsat owned by Solorz is expected to be sold on the Warsaw stock exchange next year.