Bulletin
Netia enriched by PLN 456 million
Warsaw, April 30, 2008: Netia SA today received EUR 131,8 million from completing the sale of P4 shares to Tollerton Investments Limited and Novator Telecom Poland S.a.r.l. Netia intends to invest the acquired funds in developing broadband services and a mobile offer under its own brand.
On February 22nd Netia signed a binding agreement to sell 3% of shares in the share capital of P4 to Tollerton and 20,4% to Novator. The total price for the whole stake was EUR 131.8 million (ca. PLN 456 million).
Netia realized a 66% return on its EUR 79.5 million investment in P4.
The sale of shares in P4 will fund Netia’s investments in its strategy of developing broadband services, offered with the use of fixed-line infrastructure as well as the most modern wireless technology - WiMAX. In particular, investments will be needed in local loop unbundling, used to deliver voice and Internet services over the incumbent’s local network. Moreover Netia, according to continuing agreements with P4, plans to introduce in the second half of the year a mobile offer under its own brand and convergent services.
The completion of the P4 shares sale transaction will fund Netia’s plans to increase the number of broadband Internet clients to at least 400 000 by the end of the year and introduce mobile services in the second half of 2008.