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Investment funds considering Poland’s Netia
04 April 2012
Polish operator Netia ‘ready to allow due diligence’ for potential sale and opens books to three potential buyers
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Netia
Poland
TPSA
private equity
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Innova Capital
Three private equity firms will evaluate the books of Polish operator Netia, and one of them could end up acquiring the $800 million operator.
An unnamed source told Reuters: “Three investment funds will start due diligence in Netia after Easter [April 6-9 2012].” One of funds is Innova Capital, another is linked to Polish mobile operator Play, formerly owned by Netia.
Netia told Reuters it is prepared to allow due diligence, and has been seeing interest from various private equity funds, but refused to be in talks at present. Innova declined to comment on the report.
Innova, Advent International and Bridgepoint were earlier reported to be looking at the acquisition of Netia, and could delist it after a successful tender.
Netia acquired smaller rivals Dialog and Crowley Point Data in 2011, and has been showing interest in the telecommunications businesses of Poland’s railways and utility PGE to help fight TPSA, the Polish incumbent which is controlled by France Telecom.
Third Avenue Management holds 18.3% stake in Netia, ING OFE pension fund owns 12.6%, and SISU Capital 11.6%. GTB
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