Polkomtel Shareholder Seeks Buyer for Stake

The Polish oil giant, PKN Orlen has hinted that it will seek to sell its 24.4% stake in the local mobile network operator, Polkomtel as soon as a shareholder pact expires at the end of the month.

The deputy president of PKN Orlen, Sławomir Jędrzejczyk told the Warsaw Business Journal that "the sale of Polkomtel shares would make us feel more comfortable." Jędrzejczyk said that PKN Orlen is the only shareholder who has openly said that it wants to sell its stake in the mobile network.

The company, which trades under the Plus GSM brand, is owned by Vodafone (24.4%), PKN Orlen (24.4%), KGHM Polska Miedz' (24.4%), Polska Grupa Energetyczna (21.85%) and Węglokoks (4.98%)

PKN Orlen has expressed an interest in selling its stake on several occasions in the past, although various shareholder disputes would have made a sale of a significant stake in the firm problematic.

On the web: Warsaw Business Journal - Polkomtel

Posted to the site on 18th June 2009