Spray negotiating acquisitions

2007-03-30

The Warsaw-based telecommunications operator Spray is in talks on the acquisition of three local ISPs. The takeovers should increase its subscriber base by several thousand.
Spray intends to earn revenues of PLN 18.12m (€4.6m) and to net PLN 2.74m (€0.7m), in contrast to PLN 9.35m (€2.4m) and PLN 1.2m (€0.3m) respectively in 2006. The number of subscribers is expected to increase from 19,800 to 39,000, and this is to be achieved by acquiring local ISPs and developing the company’s own infrastructure. The company is going to invest funds from a recent share issue, along with its own assets from its operational activities. The operator insists that it is working on a new offer which is being referred to as a “multimedia platform”, to be made available to the company’s clients during the second half of the year.

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