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

24 Apr 2008

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.

Poland, Plus (Polkomtel)