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20 December 2005
Netia acquires shares in its subsidiary
WARSAW, Poland – December 20, 2005 – Netia SA (“Netia”) (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced that its subsidiary, Netia Ventures Sp. z o.o., with its seat in Warsaw (“Netia Ventures”), has been registered by the relevant Polish court, under KRS number 0000246982.
Netia acquired 100 Netia Ventures shares (with a par value of PLN 500 per share) constituting 100% of Netia Ventures’ share capital and giving Netia 100% of the voting power at Netia Ventures’ general meeting of shareholders. Netia financed the transaction from its own capital. The book value of Netia Ventures in Netia’s accounts amounts to PLN 51,500. The acquisition will be treated as a long-term investment.