Polish Cyfrowy Polsat and its owner offer to buy all company’s shares

WARSAW: Polish telecoms and media group Cyfrowy Polsat and its main shareholder plan to announce a public tender offer to buy back all of the company’s shares ahead of entering new business areas, they said in statements on Monday.

Polish telecom operators are getting ready for 5G roll-out. Earlier this year Cyfrowy sold Polkomtel Infrastruktura, which manages around 7,000 masts, to Cellnex for 1.6 billion euros.

Operations in the media and telecommunications markets will remain a key focus for the group, but it plans to enter new areas, Cyfrowy’s main shareholder, Zygmunt Solorz, said in a statement.