TVN is determined to buy back more of its shares and bonds. It also reported its third quarter performance just like the other firms. Its reported core profit for the third quarter is slightly lower compared to the forecasted core profit of the analysts.
Poland’s broadcasting firm wants to buy back their shares and bonds that amount to 150 million zlotys or $44.4 million and 22 million euros or $27.6 million. The reason for TVN’s desire to buy back its shares and bonds is for the purpose of helping their share price and cutting debt.
As of the moment, TVN has already brought back bonds that amount to 33 million euros. It is already more than half of the firm’s buy-back bond target for the year 2014. The firm also brought back a total of 100 million zlotys worth of the firm’s shares in the first tranche of TVN’s 500 million zloty program.
TVN is willing to pay as much as 20 zlotys per share. It is a lot higher compared to the closing price of 15.1 zloty recorded on the 6th of November 2014. This offers a boost for the share’s market value before there is a possible change of owner.
