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TVN Says TPSA May Be Interested in Buying Stake in Pay TV

TVN SA (TVN), Poland’s biggest television network, said phone company Telekomunikacja Polska SA (TPS) may still be interested in buying a stake in its pay television venture.

Telekomunikacja, Poland’s largest phone company, had initially expressed interest in buying a stake when the two companies signed a cooperation deal in 2010, TVN Chief Executive Officer Markus Tellenbach said in Warsaw today. Wojciech Jabczynski, a spokesman for TPSA, as Telekomunikacja is known, declined to comment on a stake purchase.

“I assume they may still be interested,” Tellenbach said.

TVN agreed in December to merge its pay TV unit N with Canal Plus’s operations in Poland in a push to create the country’s biggest satellite television company, overcoming Cyfrowy Polsat SA. (CPS) It has an agreement with TPSA, controlled by France Telecom SA (FTE), on a joint sale of their products.

TVN will have a 32 percent stake in the new company while Canal Plus will have 51 percent and UPC Polska Sp. z o.o., the cable TV unit of Liberty Global Inc. (LBTYA), will control the rest.

“The question really boils down to who the seller would be,” Tellenbach said, adding TVN has no plan to sell its stake.

Agatha Slaby, a Canal Plus spokeswoman, declined to comment when contacted by phone. Patrycja Golos, a spokeswoman for UPC, didn’t answer a call to her office number and didn’t reply to an e-mail.

To contact the reporter on this story: Maciej Martewicz in Warsaw at mmartewicz@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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