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Bloomberg: Vivendi's Canal+, ITI to review their 51% stake in Poland's TVN
Vivendi’s Canal Plus pay-television unit and ITI Group said they will review options for their 51 percent stake in Polish broadcaster TVN Poland after being contacted by potential buyers, Bloomberg reports.
Several “strategic and financial investors” made approaches in recent months, the companies said in an e-mailed statement late yesterday. If the strategic review doesn’t lead to a sale, “the existing arrangements will remain in place,” they said. Canal Plus’s nc+ premium pay-TV platform will continue in any case to work with TVN, which owns 32 percent of nc+. The review process is in an initial stage, and financial and legal advisers have been engaged, the Polish broadcaster said in a separate statement, citing information from Canal Plus and ITI. Shares of Warsaw-based TVN have dropped 2 percent this year, giving the broadcaster a market value of 5.04 billion zloty ($1.53 billion). RELATED
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