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21 July 2015

Netia Group buys TK Telekom

On 21st of July 2015 Netia SA signed a final agreement to acquire 100% shares of TK Telekom Sp. z o.o. After signing a preliminary agreement between Netia and PKP SA on May 8th, both sides awaited an approval for the transaction from the General Shareholders Meeting of PKP SA and the Competition Office (UOKIK). The final purchase price for 100% shares of TK Telekom was just below PLN 222 mln. The transaction has been funded from available credit lines and Netia’s own resources.

"The companies integration process is in front of us. We will choose an option that will be beneficial for both our clients and companies of the Netia Group. In the coming months we will decide on an optimal integration model. But I am confident yet today that expanding our Group with these new assets will increase further our market effectiveness and will fit well with realization of the Netia Group strategic goals.” – said Bogusława Matuszewska, CEO of Netia.

Following the acquisition of TK Telekom, Netia Group will substantially increase its potential. The reach of the Group’s own fiber backbone network will grow by approximately 7,5 thousand kilometers. The transaction will scale up Netia Group’s operations in the B2B segment even by over 28% (pro-forma data for 2014).

"Another step in consolidating the fixed-line assets on the Polish telecommunications market has been made, in line with the Netia Group strategic goals. An extensive fiber-optic network and portfolio of strategically important clients will strengthen Netia Group position in B2B segment. What is important is that after paying out dividends of PLN 60 groszy per share and canvassing TK Telekom the financial leverage of the company remains on a comfortable level.” – commented Andrzej Kondracki, Head of Strategy and Corporate Development, Netia Group.

Immediately after closing the deal Netia will begin detailed analysis that will determine the final form of integrating TK Telekom into Netia Group. Particular plan will be presented by the end of 2015.