Copper top brass says ‘no plan to sell Polkomtel stake’

The new chief executive of Polish copper group KGHM says there is no plan to sell its 19.6% stake in cellco Polkomtel. ‘Polkomtel looks like a good medium-term investment, and I will recommend not exiting Polkomtel,’ Chief Executive Miroslaw Krutin said in a television interview. KGHM and several other state-controlled Polish companies together own 61% of Polkmotel and had agreed to collectively buy an additional 19.6% stake from Denmark’s TDC. The transaction, however, was blocked by Vodafone, which also owns 19.6% and has indicated it would like to gain control of the telco.