GTS Group Plans Serious Shopping
Up to EUR500m will be spent on investment in own infrastructure by the GTS Central Europe telecommunications group.
The news was announced by Krzysztof Krawczyk, a partner in the Innova Capital fund, and a member of the board of directors for GTS. Innova is the company which along with several other funds took over shares in GTS in April 2008. The news comes hot on the heels of the GTS group announcing formidable results in H1. According to Adam Sawicki, CEO of the GTS group, it made turnover of EUR190m, with an EBITDA result of EUR41.3m, 18 percent more year on year. The CEO boasts that such good results are unheard of in Central and Eastern Europe. GTS wants to actively pursue a policy of consolidating the telecommunications market in the region, underlines Krawczyk. The group is looking for takeovers in all the countries it operates in, and says accrued debt will not be a hindrance.
PA Nova to Launch Major Project in September 2010
In September 2010, PA Nova is to launch the construction of a shopping mall in Zamosc. The cost of the investment is estimated at ZL120-140m; the project will be financed from own funds and a bank loan. Next year, the company intends to conduct a share issue worth ZL40-50m, with the money obtained from the stock market to be used as own input in financing the investment. According to earlier plans, the issue was to take place in late 2009, with the funds obtained to be used to complete the construction of a shopping mall in Przemysl. Commenting on the issue, PA Nova CEO Ewa Bobkowska announced that the firm had signed a letter of intent with a bank regarding a ZL90m loan, which will enable it to complete the Przemysl project. So far, PA Nova has signed contracts for next year worth ZL97m. In Q3, its consolidated revenue amounted to ZL32.69m, with net gains settling at ZL1.56m.