Bid For Polish Mobile Stake

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Britain's Vodafone and Denmark's TDC have made an offer for a controlling stake in Polish mobile phone operator Polkomtel, an advisor to Poland's treasury minister told Reuters on Monday.

Daily Puls Biznesu reported Vodafone and TDC, who now each own 19.6 percent in Polkomtel, offered to pay 8.7 billion zlotys ($2.56 billion) for an additional 46 percent stake owned by several state-controlled Polish companies.

"The (Vodafone and DTC) offer was directed at the Polish shareholders, not to the ministry -- which is not a side in this transaction," Michal Stepniewski said. He declined to comment on the offer price, saying it was for the companies to decide.

He said Treasury Minister Jacek Socha told Vodafone and TDC during a recent meeting that Polkomtel's sale processs must be "transparent, which is guaranteed by a public share offering."

Source: Reuters

July.25.2005



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