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Multimedia Polska calls off merger with Vectra

Polish cable operator Multimedia Polska has called off its planned merger with Vectra after failing to agree on key terms, according to local press.

Multimedia Polska pulled out of the deal, which would have seen Vectra acquire 100% of its shares, after the pair failed to agree terms within the deadline they had set for exclusive negotiations.

Multimedia Polska said that its management had decided not to renew the exclusivity period.

The merger had previously hit a hurdle when competition watchdog the UOKiK decided to subject it to a second-stage investigation including an in-depth market analysis on the grounds that the pair provided similar services in a number of cities.

Multimedia Polska had previously been pursued by Liberty Global’s local unit, UPC Polska. However the latter withdrew from the planned acquisition in March after the competition regulator said it would subject that deal to an in-depth probe.