Post the Easter weekend, Polish telecom company Netia could be looking at share sales worth more than EUR 600 mln. Three PE majors have shown interest in purchasing the company’s shares, and are thought to be Bridgepoint, Innova Capital and Advent International. The news of the possible fund inflow pushed Netia to an 11-year high, to PLN6.44 per share. As of now, no due diligence has been initiated by any of the interested parties; however, Netia has thrown open its books to them for that purpose.
Netia is currently the second-largest provider of fixed-line services in Poland. The company topped PLN1,600 mln in gross revenues in 2011, and has been showing consistent improvement in that area over the last three years. It is currently tracking PLN2,185 mln as its 2012 revenue target. Their objective is to be the No. 1 provider of telecommunications services in Poland by 2020. To that end, they have devised a road map containing several checkpoints with regard to user base, number of services being provided, etc.