Canal Plus, a unit of French media conglomerate Vivendi SA (VIV.FR), is expected to complete its due diligence of Polish broadcaster TVN SA (TVN.WA) within weeks, ahead of a planned merger of the two companies' pay-television units, TVN Chief Executive Markus Tellenbach told a press conference Thursday.

The companies have yet to determine the proportion of stakes each will get in the merged pay-TV firm, he added.

The firms said earlier in November they plan to merge their Polish pay-TV businesses into a joint venture in which TVN will have a significant minority stake. The transaction is part of an exit of some minority shareholders from ITI Holdings, TVN's parent company.

Tellenbach also said TVN's web portal, Onet, isn't for sale and no work is underway to sell it. Onet is an integral asset of TVN, he said.

-By Marynia Kruk and Marcin Sobczyk, Dow Jones Newswires; +48 22 447 2432; marcin.sobczyk@dowjones.com

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