Polsat, the second largest commercial TV station in Poland after TVN, has reopened talks on selling a minority stake (20-25%) in the company to an unnamed media group, according to today’s ‘Puls Biznesu’ daily. The two companies have also discussed joining forces on programming production. Alternatively, Polsat has been considering the stock exchange listing of its minority stake.
Our view: Most likely the unnamed media group is Agora. The company has signalled plans to increase its exposure to electronic media segment of the advertising market. It could also find synergy effects with TV station, such as Polsat. We would view the news positively, potentially impacting the trading on the stock today.