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IPO on horizon for Poland’s Canal Plus as TVN and Liberty Global eye exit

ITI Neovision, operator of the Polish pay-television platform Canal Plus, has said it is exploring an initial public offering for the stakes in the company held by minority shareholders, Polish broadcaster TVN and Liberty Global’s LGI Ventures.

In a statement, ITI said it is “working collaboratively” on the matter with its shareholders and advisors, with TVN and LGI holding stakes of 32 per cent and 17 per cent, respectively. The Vivendi-owned French media company Groupe Canal Plus currently holds the majority 51-per-cent stake in ITI.

The statement read: “Groupe Canal Plus intends to retain its role as the strategic shareholder of ITI Neovision SA regardless of such a process and its actual outcome, which will depend on various factors, including market conditions and obtaining the usual consents and approvals.”

ITI added that discussions are ongoing and are at a preliminary stage. Canal Plus is a major sports broadcaster in Poland. Its most significant recent rights deal came in September as it agreed a one-season contract for the rights to the European Handball Federation’s men’s and women’s Champions League, including the Final Four.