Polish cable TV operator raises bid for Netia stake
WARSAW, July 23
WARSAW, July 23 (Reuters) - Polish cable operator Vectra said on Wednesday it has increased its bid for a 33 percent stake in telecommunication company Netia to 5.41 zlotys ($1.76) per share.
At the beginning of July, Vectra offered to buy the stake in Poland's biggest independent telecom firm for 5.31 zlotys per share, or 4 percent above the then market price.
On Wednesday, Vectra said it would offer 5.41 zlotys per share from July 23-29 with the bid reduced to 5.11 zlotys per share between July 30 and August 5.
The higher price values the whole company at 1.88 billion zlotys, but is still 4 percent below Tuesday's closing price. ($1 = 3.0705 Polish Zlotys) (Reporting by Marcin Goclowski; Editing by Erica Billingham)