January 24, 2018 / 6:53 AM / 4 months ago

BRIEF-Netia May Write Off 150.7 Mln Zlotys For 2017

Jan 24 (Reuters) - Netia SA:

* SAID ON TUESDAY THAT AT THIS STAGE IT ESTIMATES TO WRITE OFF 150.7 MILLION ZLOTYS DUE TO IMPAIRMENT OF NON-FINANCIAL ASSETS IN ITS NON-CONSOLIDATED FINANCIAL STATEMENT FOR 2017

* SAYS WILL GIVE IS FINAL RESULTS OF ASSETS IMPAIRMENT TEST WITH ITS FINANCIAL RESULTS FOR 2017 ON FEB. 15

* SAYS IT IS CONDUCTING ASSETS IMPAIRMENT TEST BY COMPARING THE BALANCE VALUE OF ASSETS WITH ITS RECOVERABLE VALUE

* SAYS THE RECOVERABLE VALUE IS BASED ON THE FAIR VALUE CALCULATION

* SAYS LAST YEAR THE CALCULATION OF FAIR VALUE WAS BASED ON ESTIMATED CASH FLOW AND ITS 10-YEAR BUSINESS PLAN

* SAYS CYFROWY POLSAT ACQUIRED 33 PERCENT STAKE IN THE COMPANY AT THE BEGINNING OF DEC. AND ANNOUNCED A TENDER OFFER FOR THE REMAINING 66 PERCENT STAKE

* SAYS THE SUCCESSFUL IMPLEMENTATION OF THE TENDER OFFER CAN HAVE AN IMPACT ON ITS STRATEGY AND OPERATING ACTIVITY

* SAYS IT HAS DECIDED THEN TO APPLY MARKET SHARE PRICE AS THE MOST TRUSTWORTHY METHOD OF CALCULATION OF FAIR VALUE OF ITS ASSETS

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Further company coverage: (Gdynia Newsroom)

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