Warsaw (Puls Biznesu) – Novator changes its plans. Although it has suggested recently it wanted a 23-percent stake in Netia, now it wants more.
Novator Telecom Poland II, a fund connected with an Island millionaire Thor Bjorgolfsson, whose tender offer to buy nearly 23 percent in Netia telecom ended successfully, considers to increase its stake to 33 percent minus one share. Before, the fund said it would not increase its engagement.
“Everyone can change his or her investment stance. Our philosophy remains unchanged – we want to constantly increase our engagement in the sector in this region”, Constantine Gonticas, Novator managing director said.
“The plans of the fund change every week. It’s hard to conclude what its long-term intentions are”, Krzysztof Kaczmarczyk from DB Securities said.
The transaction could be concluded within 12 months provided that Novator receives the permission from antimonopoly authorities UOKiK.