Multimedia Polska to buy back shares

Multimedia Polska plans to buy back shares at PLN8.75 (€2.16) each in the first stage of a PLN336m, five-year buy back programme.

The polish cable operator will sell PLN400m of bonds. It said that funds raised from the bond issue as well as a bank loan will be used to refinanced existing debt of PLN430m, as well as to buy its own shares.