TVN and Canal Plus Group intend to retain their stakes in their joint pay TV company, despite interest expressed by Telekomunikacja Polska (TP) in taking a stake, according to reports.
TVN and Canal Plus agreed in December to create a joint enterprise, merging respective pay TV services ‘n’ and Cyfra Plus into one company, under Markus Tellenbach as CEO, with Canal Plus holding a 51% stake and TVN holding 32%, with UPC, which previously held a 25% stake in Cyfra Plus, holding 17%.
Interviewed by Reuters, Tellenbach noted reports of TP’s interest but said that stakes in the joint enterprise were not for sale. TVN already has a partnership to co-sell TP’s and ‘n’’s offerings to each other’s subscriber base.
TVN and Canal Plus are awaiting regulatory approval for the merger.
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