Latest news with #CyfrowyPolsat
Bloomberg
23-07-2025
- Business
- Bloomberg
Billionaire Fired From Polish Media Firm He Founded in Family Feud
In Poland, one of the country's biggest media businesses is embroiled in a rapidly escalating family dispute that's playing out like a real-life version of the hit television show 'Succession.' The saga at Cyfrowy Polsat SA, which has been running for months, ramped up on Tuesday when the company dismissed its billionaire founder Zygmunt Solorz as well as its chief executive.
Bloomberg
22-07-2025
- Business
- Bloomberg
Billionaire Fired From Poland's Cyfrowy by His Own Family Trust
Polish media and telecommunications group Cyfrowy Polsat SA unexpectedly dismissed its billionaire founder Zygmunt Solorz, escalating a conflict over succession in one of the country's richest families. Cyfrowy's majority owner, Liechtenstein-based TiVi Foundation set up by the Solorz family, used its special rights to remove the billionaire from the conglomerate's supervisory board on Tuesday. It also replaced Chief Executive Officer Miroslaw Blaszczyk. The company's shares fell as much as 2%.
Reuters
05-02-2025
- Business
- Reuters
TSS agrees to buy additional stake in Poland's Asseco
Feb 5 (Reuters) - Total Specific Solutions (TSS) has signed a deal to buy a further 14.84% stake in Polish software firm Asseco Poland ( opens new tab, which would make it its biggest shareholder, the latter said late on Tuesday. TSS, a Netherlands-based software group, bought a 9.99% stake in Asseco from Cyfrowy Polsat at the end of January and once the deal is completed it will own 20,618,892 shares, or a 24.84% stake in Asseco through its unit Yukon Niebieski Capital. The deal, subject to regulatory approvals, was done for 85 zlotys a share, the same price as the one with Cyfrowy Polsat. "The involvement of a significant European partner and industry investor will accelerate growth and enable further expansion of Asseco Group's business operations," Asseco said in a statement. The Polish firm's CEO Adam Goral added that it will help it compete for bigger market share "in a time of increasing dominance by global software giants." Goral's foundation, which owns a 10.01% stake in Asseco has signed a shareholder agreement with TSS, Asseco said. According to the agreement, TSS will not exceed a maximum 27.96% stake in Asseco's share capital. Asseco will stay a public company listed on the Warsaw bourse, with Adam Goral remaining at its helm. ($1 = 4.0478 zlotys)
