Polish Cyfrowy Polsat owner denies his right to dispose of property is restricted

Cyfrowy Polsat SA

11/12/2024 07:56

WARSAW, Dec 11 (Reuters) - The owner of Polish media and
telecommunication group Cyfrowy Polsat  CPS.WA  Zygmunt Solorz
denied reports that a Liechtenstein court has restricted his
ability to dispose of the company's property. 
    Polish media reported on Tuesday that courts in
Liechtenstein and Cyprus have imposed restrictions on his
ability to make decisions on the property of his companies at
the request of his children.
    In a statement sent to media late on Tuesday, Solorz said
the court decision only restricts his and his children's rights
to make changes in the council of the foundation in
Liechtenstein which are the owners of his companies.
    "First of all, it is not true that any court blocked my
assets... I still fully control and supervise my companies,
including acting as chairman of the supervisory board," Solorz
wrote.
    Shares in Cyfrowy Polsat have come under pressure as
conflict between its billionaire founder and his sons, who held
key management positions in the company, has escalated.
    Solorz's three children have expressed concern about his
deteriorating health and susceptibility to the influence of his
current wife. Solorz dismissed his two sons from the supervisory
boards of his companies earlier this year. 
    

 (Reporting by Anna Wlodarczak-Semczuk
Editing by Christina Fincher)
 ((anna.wlodarczak@thomsonreuters.com;))