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Polish cable operator Vectra cancels tender offer for 33% of telecom Netia [IntelliNews - Weekly Reports](IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Polish cable operator Vectra has dropped its tender offer for acquiring a 33% stake of listed telecom Netia, because it did not obtain the minimum number of shares by August 5, Reuters reported. The offer manager was UniCredit CAIB. The tender offer was launched in early July. The 33% stake comprises 114.8mn Netia shares. The tender offer was priced at PLN 5.31 (about EUR 1.3) per share initially. The price was subsequently changed to PLN 5.41 per share until July 29 and PLN 5.11 per share from July 30 to August 5. Vectra is one of the leading cable operators in Poland, while Netia has the second-largest fixed-line network in the country. At the launch of the tender offer, Vectra's CEO said that they view the stake acquisition as a purely financial investment. (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info). |