Vivendi/TVN deal details emerge
06.04 Europe/London, November 14, 2011 By Chris Dziadul
Vivendi’s Canal+ will have a five-year option to buy a majority stake in the Polish national commercial broadcaster TVN after the signing of an official agreement between the two parties.
The news was given by Wojciech Kostrzewa, the president of ITI Group, quoted in Wirtualne Media, who added that the deal – effectively a strategic partnership that will lead to the merger of their DTH operations – is likely to be completed the end of this year.
By then, an agreement under which ITI Group will buy up shares in the company currently held by the Wejchert family will be in place.
Meanwhile Magnus Tellenbach, the president of TVN, has said that the stake that TVN will hold in the joint venture including platform n could be agreed sometime this month.
The merger of Cyfra+ and platform n will create a DTH platform with over 2.5 million subscribers.