TP Invest increased its share in Telefony Podlaskie almost to 90%

2011-10-21



Warsaw-based telecom enterprise TP Invest, a subsidiary of TP SA, has purchased 34% of shares in the local telecom service provider, Telefony Podlaskie, from the Polish Ministry of State Treasure. TP Invest paid for PLN 12m (€2.8m) the transaction.

Before the shares purchase, TP Invest was a major shareholder of Telefony Podlaskie, having 55% of its shares. The transaction is a result of a new strategy undertaken by TP SA, which intends to focus more on its core activity.

Telefony Podlaskie is a local operator of fixed line telephone, television as well as broadband internet access. The company provides services in several towns of Podlaskie voivodship.

TP Invest was created by TP SA in 2000, and its area of expertise is restructurisation of TP SA assets.