Polish Network Stake for Sale

The Polish oil company, PKN Orlen wants to sell its stake in the Polish GSM network, Polkomtel, but only to a Polish investor, leaving the two leading overseas investors, Vodafone and Tele Danmark unable to increase their stakes. PKN Orlen currently holds 19.61% of Polkomtel, a holding valued at between US$3 billion and US$3.7 billion. The other Polish shareholders, KGHM Polska Miedz (19.61%) and the state owned electricity generator, PSE (16.05%) are understood to not be interested in increasing their stakes in the company."

Posted to the site on 10th May 2001