Polish operator Netia has agreed to sell its 23.4 percent stake in mobile carrier P4 to Tollerton Investments and Novator for EUR 130 million cash. The price represents a 63 percent premium over the EUR 79.7 million in equity contributed by Netia to P4. Netia expects to complete the deal in the first quarter, meaning it will not participate in expected capital-raising at P4 later this year. Netia announced already in early January that it was considering the P4 stake sale. The cash received will be used to finance its own growth and avoid the need for an equity issue. With the acquisition of Netia's stake, Novator and Tollerton have full control of P4.
Saturday, March 22, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment