Polish court paves way for TDC to exit Polkomtel

24 Nov 2008

Reuters reports that a Polish court has paved the way for the long-delayed sale of TDC’s 19.6% stake in Poland’s second largest mobile firm, Polkomtel, by lifting an injunction that had halted the deal. Last month British wireless group Vodafone, which also owns 19.6% of Polkomtel, agreed to buy a further 4.8% from TDC for EUR176 million (USD220 million). That deal resolved a legal challenge by Vodafone to TDC’s original exit plan, announced in 2006, when it agreed to sell its entire stake to Polkomtel’s Polish shareholders – PKN Orlen , KGHM, PGE and Weglokoks – for EUR650.5 million.

Poland, Plus (Polkomtel), Vodafone Group