According to daily Puls Biznesu, (16,25 PLN, 0,00%) is in ongoing process to sell “wp.pl” its internet portal. This transaction, after sale of Emitel would be another part of non-core assets disposal. Daily speculates that company needs money to fuel infrastructural joint-venture with PTC.
Our view:
The news is positive for . Operating influence of Wp.pl on business is marginal and on the EBIT line it less then 1%. Position of
wp.pl, as a second biggest portal in Poland, gives a chance for a good valuation of this asset. We wait for more light from side.