Polands Agora expects positive outcome despite setback in Eurozet takeover

　　div classBodysc17zpet90 cdBBJodivpGDANSK Reuters – Polish media group Agora expects a delay of at least several months to its planned takeover of Eurozet if the Polish competition watchdog appeals a recent court OK, management board member Anna KrynskaGodlewska said.p

　　pAgora, whose flagship product is the Gazeta Wyborcza daily newspaper critical of the current Polish government, holds a 40 stake in the Radio Zet owner and has been trying to buy the remaining share from Czechbased SFS Ventures since 2019.pdivdivdiv classBodysc17zpet90 cdBBJodiv

　　pPolands antimonopoly watchdog UOKiK blocked the takeover in early 2021 citing competition concerns, but critics said the decision was politically motivated with the ruling Law and Justice PiS party aiming to increase its influence on the media.p

　　pA competition court in May then rejected the regulators arguments, but the verdict is subject to further appeal.p

　　p“We have correctly assessed the extensive evidence and the competitive threat posed by this concentration,” Tomasz Chróstny, the head of UOKiK said in a statement, confirming that he would appeal.p

　　p“We hope that in the second instance the court will agree with our arguments,” Chróstny added.p

　　pAgora‘s KrynskaGodlewska said UOKiK’s expected appeal would likely delay the possibility of the takeover by “several to a dozenodd months”.p

　　p“We believe the first instance court put forth strong arguments, so we expect a positive outcome,” she added.p

　　pAgora is in talks with SFS Ventures to extend its call option for the remaining shares, it said in a market filing on Thursday.p

　　p“For us the most important thing is simply to extend the call option deadline, to give us a realistic chance of taking over this asset while we wait for the appeals court decision on the matter,” KrynskaGodlewska said.p

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　　pp Reporting by Karol Badohal, Adrianna Ebert, Mateusz Rabiega editing by Jason Neely, Kirsten Donovanp

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