GDANSK (Reuters) -Polish media group Cyfrowy Polsat has sold its 9.99% stake in software firm Asseco Poland to Yukon Niebieski Kapital for more than 705 million zlotys ($173 million), Polsat said on
Asseco Poland Shares Surge to 25-Year High Following Stake Sale
By Marta Maciag
GDANSK (Reuters) -Polish media group Cyfrowy Polsat sold its 9.99% stake in Asseco Poland in a 705 million zloty ($173.5 million) deal on Friday, sending shares in the Polish software company to their highest in 25 years.
Asseco Poland shares had jumped more than 11% to 119.2 zlotys by 1516 GMT, outperforming Poland's mid-cap index MWIG 40.
Cyfrowy Polsat said the stake sale to Yukon Niebieski Kapital is in line with the company's strategy to focus on its core business areas, including media, telecommunications and green energy production.
"After a thorough analysis, the management of Cyfrowy Polsat came to the conclusion that further implementation of goals related to modern technologies and the IT area does not require direct capital involvement in Asseco Poland," it said in a statement.
The sale does not change the nature or quality of the existing cooperation between the two companies, which will be continued based on their current partnership, Polsat added.
($1 = 4.0638 zlotys)
(Reporting by Marta Maciag; Editing by Milla Nissi and Jan Harvey)
