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Wednesday, January 5, 2011

Vectra files for takeover of Poland's Multimedia, (NASDAQ: LBTYA)

Poland's second-largest cable operator Vectra filed to take over part of business of the sector's No.3 group Multimedia MMPA.WA, Poland's antimonopoly office said on its website. Neither of the two was immediately available for comment. Poland's cable market is set for major ownership changes, with Vectra seen as the main predator after it lost the race for Poland's No.4 cable provider Aster to its largest rival UPC, owned by Nasdaq-listed Liberty Global (LBTYA.O), last month. [ID:nLDE6B50JU] Also in December, sources told Reuters that Multimedia, valued at 1.5 billion zlotys ($511.4 million), was planning further share buybacks and an eventual delisting after four years on the Warsaw bourse. [ID:nLDE6B50JU] (Reporting by Agnieszka Barteczko; Writing by Adrian Krajewski; Editing by David Holmes) ($1=2.933 Zloty)

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