Gremi Grupa media assets to list in Warsaw on July 1

By bne IntelliNews June 15, 2015

Gremi Grupa's media assets will be listed on the Warsaw Stock Exchange (WSE) on July 1, the owner of the investment group  Grzegorz Hajdarowicz, told local media on June 12.

The float will initially see Gremi Media buy the shares in Presspublica - publisher of the flagship Rzeczpospolita newspaper - from stakeholders Gremi Grupa and KCI. The value of the transaction is estiamted at PLN234mn by financial website Bankier.pl. The businessman also hinted at a Gremi Media IPO later this year.

The businessman plans to build a “technologically advanced Poland-centred media group,” in a move perhaps motivated by the current fight for market share in Polish media and IT. Hajdarowicz said Gremi Media will attempt to take over IT companies servicing small and medium enterprises, ISBNews reported on June 12.

With consumer spending growing strongly, M&A and capital raising is ongoing across the sector. Media company Grupa Wirtualna Polska - operator of Poland's biggest internet portal - started trading on the WSE on May 8. TV and internet operator TVN was bought by US group Scripps Interactive in March.

“Getting listed [on the WSE] and raising capital should help create a new, technologically advanced group that will stand a real chance of joining the leaders of the Polish media market,” Hajdarowicz told Rzeczpospolita in April.
 
He also claimed Poland needs a media group of its own on a market that is becoming “dominated by large German companies”. Polish media should have decision centres in Warsaw, not abroad, he added. The two largest press publishers in Poland are German-owned Bauer and German-Swiss Ringier Axel Springer.

Sales of Rzeczpospolita stabilised in April at 56,200, a decline of only 0.1% y/y. At the same time, that's a far cry from the newspaper’s heyday when it sold close to 200,000 copies. Sales dropped over 7% y/y in 2014.

The Polish advertising market is forecast to rise by around 5% overall this year, but the print segment is lagging badly. Meanwhile, the internet segment is likely to grow by up to 10% suggest forecasts.

Related Articles

Bulgaria’s Vivacom reportedly to buy minority stake in parent for €43mn

Bulgarian Telecommunications Company (BTC), the country’s largest telecom firm by revenue that operates under the brand name Vivacom, is reportedly planning to acquire a stake of between 10% and ... more

Romanian software producer Bitdefender takes over French peer Profil Technology

Romanian security technology company Bitdefender has acquired its French peer Profil Technology as part of its expansion strategy on the corporate segment.  The terms of the deal were not ... more

Chinese fund to buy Hungarian telco Invitel

Central European private equity group Mid Europa Partners has agreed to sell Hungarian broadband and telephone provider Invitel to China CEE Investment Co-operation Fund. The deal values ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss