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Thursday, March 24, 2011

TPSA sells unit Emitel for $593 million to Montagu fund, (FTE)

Poland's top telecom company TPSA TPSA.WA, a unit of France Telecom (FTE.PA), sold its Emitel unit for 1.7 billion zlotys ($593.4 million) to private equity fund Montagu, TPSA said late on Thursday. The sale value comes in above earlier expectations that the television and radio broadcast infrastructure operator could be worth between 600 million and 1.5 billion zlotys. [ID:nLDE70H261] "Expected positive impact on gross profit of TPSA group in 2011 at around 1.2 billion zlotys," TPSA also said in a statement.

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