Vivendi completes pay-TV tie-up deal with Polish TVN

WARSAW Fri Nov 30, 2012 8:40am EST

WARSAW Nov 30 (Reuters) - France's media and telecoms group Vivendi and Polish broadcaster TVN completed a long awaited deal to combine their pay television platforms in Poland, TVN and its controlling owner said on Friday.

The link-up, approved by Polish regulators, is part of a wider partnership deal that could see Vivendi ultimately take control of TVN.

Vivendi will hold 51 percent in the joint venture valued at 5.9 billion zlotys ($1.9 billion). The French group will also take 40 percent in TVN's controlling company for 230 million euros ($298.5 million). ($1 = 3.1513 Polish zlotys) ($1 = 0.7705 euros) (Reporting by Adrian Krajewski)