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Polsat seeks IPO of its satellite TV unit

2007-09-25

Polish commercial broadcaster Polsat SA has filed papers with financial regulators to carry out an initial public offering of its satellite TV unit Polsat Cyfrowy that analysts believe could be worth in excess of 1 billion zloty (€270 million)

The Polish Financial Supervisory Authority confirmed that Polsat has filed paperwork seeking permission to undertake the IPO, which the daily Gazeta Wyborcza reported may take place later this year. The broadcaster is currently valued at about 5 bilion zloty.

If the IPO is successful, majority shareholder Zygmunt Solorz-Zak would prepare to float Poland's biggest private TV broadcaster, Telewizja Polsat, worth an estimated 2-3 billion zloty, the newspaper reported.

Polsat Cyfrowy said it reached 1.5mn digital TV subscribers in May and expects to increase that by 700,000 yet this year

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