Poland's ITI: No Frontrunners For TVN Yet, In Talks With Many Parties

Date : 09/22/2011 @ 4:21AM
Source : Dow Jones News
Stock : Brt Apartments Corp. (MD) (BRT)
Quote : 13.26  0.0 (0.00%) @ 4:00AM

Poland's ITI: No Frontrunners For TVN Yet, In Talks With Many Parties

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Polish entertainment group ITI Holdings SA doesn't currently have a preferred buyer for its 56% stake in broadcaster TVN SA (TVN.WA) and is in talks with many interested parties, ITI Chief Executive Wojciech Kostrzewa said Thursday.

ITI said in July it was considering a possible sale of its entire stake in TVN.

"In the end, the main factor deciding on the choice of buyer will be the price," Kostrzewa added.

Earlier Thursday, Polish daily Puls Biznesu reported media firms Time Warner Inc. (TWX) and Vivendi (VIV.FR) are frontrunners to win the auction for TVN, citing anonymous sources.

According to Puls Biznesu, Bertelsmann AS isn't among the potential buyers, but the daily added that private equity funds are looking for strategic partners to jointly purchase TVN and then divide up its various businesses.

In late August, Vivendi Chief Executive Jean-Bernard Levy said the company is looking for small to medium-sized acquisitions to boost its presence in emerging markets. He declined to comment on suggestions the group may be interested in TVN. "We never comment on any particular rumor," Levy said, but added the company is "very attentive" to what is happening in Poland where it already has operations.

-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com

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