Warsaw (Puls Biznesu) – Zygmunt Solorz-Zak, the owner of Polsat whose new minority shareholder is Axel Springer, says in an interview for “PB” that the German giant will not influence his TV broadcasting company.
“PB”: Why have you finally decided to sell a minority stake to Axel Springer although you have recently failed to reach agreement with RTL Group?
Zygmunt Solorz-Zak: I decided that you can work with a partner like Axel Springer. I have always repeated that I would not give up the control over the company. Axel Springer understood this and agreed to my conditions.
What influence will Axel Springer have in Polsat?
The rights of a minority shareholder. It will not influence the program, and will have two out of seven members in the supervisory board of Polsat. I do not plan changes in the board of directors.
Will the money you will get be spent to increase Polsat’s capital?
Polsat is a profitable company which finances itself. When we prepare the business plan, we will consider whether Polsat needs funds. Then, we will decide whether to conduct an IPO of 15-20 percent of shares. We have time for that till the end of 2008. The funds from the present transaction will go to the main shareholder.