Netia in hunt for rival Dialog

15 Mar 2004

Poland’s leading independent telecoms company Netia, which is currently engaged in a long-running tender bid for rival local telephony firm Telefonia Dialog, says it is keen to merge with the telco, although it has not ruled out other possibilities should Dialog’s owner, KGHM Polish Copper, wish to retain an interest in the firm. Netia is one of five firms short-listed for a stake in Dialog, but KGHM recently surprised industry watchers by announcing it may not now sell its full 100% holding. A decision on the sale is expected within the next two months. Dialog reported record net profits of PLN261.2 million in 2003 and operating profits of PLN425.6 million. It boosted revenues for the year by 9% to PLN390.8 million and EBITDA was PLN136.3 million. It also reported 44,000 new customers, 404,000 lines in service and 56,000 broadband accounts at the end of 2003.