Vivendi seeks Polish partner for TVN bid: sources (Reuters)
WARSAW (Reuters) ? French entertainment and media group Vivendi could team up with a local Polish partner to squeeze synergies out of its possible buy of broadcaster TVN, sources close to the situation said.
One of the sources, who declined to be named, said Vivendi was considering allying itself with a telecoms sector company. The person added that several scenarios were being assessed but that the deal was complex, given the current market turmoil and fraught economic outlook.
A report in Polish daily Rzeczpospolita said Vivendi, citing an unnamed source, could turn to Poland's largest telecom operator TPSA after acquiring TVN to create a media and telecoms partnership with possible capital ties.
TPSA, a unit of France Telecom, and TVN declined to comment.
TVN's parent company ITI Group in July began a process to sell its 56 percent stake in TVN Group, which some analysts have valued at $1.3 billion. TVN operates a pay-TV business, free-to-air channels, and Poland's biggest web portal.
In France, Vivendi owns the largest pay-TV business Canal+, which specializes in high-end exclusive content including movies and football matches. It is also in the telecoms business via its SFR mobile operator.
In Poland, the French group controls the country's No. 2 pay-TV platform Cyfra+, which could be merged with TVN's rival 'n' platform.
Vivendi faces competition in the bidding for TVN, with Polish media reports saying U.S. rival Time Warner and Bertelsmann-owned RTL Group are still in the running.
On Monday, the head of Vivendi's supervisory board was quoted in the Polish media as saying the company was interested in buying the controlling stake in TVN, put up for sale by its owner ITI, with a local partner.
JP Morgan and Nomura are advising ITI on the sale.
(Reporting by Adrian Krajewski; Additional reporting by Leila Abboud in Paris; Editing by Hans-Juergen Peters and Will Waterman)
doppelganger labor day jane fonda interpol fist under armour pepsi