Polish TVN reverses bid for rival Puls

TVN, Eastern Europe's largest listed broadcaster, made and later withdrew an offer for smaller rival TV Puls, which analysts said may have been a way to block a foreign competitor from entering Poland. "TVN made an offer for TV Puls, but withdrew it," TVN's Karol Smolag said. "At this moment no talks are being held." Shares in TVN rose 1.2 per cent by 1100 GMT versus a 1.1 percent rise in Warsaw's main index. TV Puls, which has been on the block since Rupert Murdoch's News Corp pulled out in 2008, is controlled by its chief executive Dariusz Dabski, who owns a 75-per cent stake. The purchase would boost the number of households reached by TVN and give it an additional outlet for programming as well as a stronger position ahead of a switch to digital broadcasting. News Corp invested more than $50m in TV Puls only to give up its 35-percent stake after it failed to boost its weak ratings and take market share from TVN, privately held Polsat and the public broadcaster.