Netia plans to buy Exatel

2010-04-19

Netia, the alternative fixed-line operator in Poland, is considering buying Exatel, the telecommunication operator providing services for business. The latter operator belongs to Polska Grupa Energetyczna (PGE), the energy supplier in Poland, which plans in 2010 to sell its non-strategic assets and focus on its core business. The estimated value of Exatel’s acquisition totals to a minimum PLN 780m (€201.6m). Netia reported that it had already sent a letter of intent as well as a declaration of interest in the potential transaction.
As we reported on another occasion, Netia is also interested in taking over Telefonia Dialog, which belongs to KGHM, the copper producer. The potential transactions could be financed by Netia’s own funds that total to around PLN 200m (€51.7m) as well as unused open credit lines.