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Multimedia Polska plans share buyback

Multimedia Polska is planning to spend PLN330m (€85m) on a share buyback.

The Polish cable operator said a final decision would be made at the general shareholders meeting scheduled for May 10, but the move would likely see its management board having five years to complete the operation. The company said it would conduct a PLN400m bond issue and that it also wants to take out a PLN330m bank loan in order to refinance its existing debt.