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Polish Media Tycoon To Buy Telecom Firm

Polish media entrepreneur Zygmunt Solorz-Zak is acquiring the country’s second-largest mobile operator Polkomtel.

    Polish media entrepreneurZygmunt Solorz-Zakis acquiring the country’s second-largest mobile operatorPolkomtel,Reutersreports. The consortium of sellers comprises Polish state-linked companiesPKN Orlen,Polska Grupa Energetyczna,KGHM Polska MiedźandWeglokoks, as well as U.K. groupVodafone Group. Polkomtel is being sold for an enterprise value of $5.75 billion.

    As a part of the deal, Solorz-Zak, who handles Poland’s largest-listed media groupCyfrowy Polsat, will aim to collect $1.4 billion from the international debt market as part of the financing. One of the richest men in Poland, he has also taken up charge as Polkomtel’s CEO on an interim basis.

    Click here for the story fromReuters.

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