Orlen may delay Polkomtel exit due to weak market conditions

10 Feb 2009

Reuters reports that Poland’s leading refiner PKN Orlen may delay the sale of its stake in mobile operator Polkomtel due to weak market conditions, quoting its chief executive Jacek Krawiec. ‘As we have often said, the exit will happen only if we receive attractive prices, and that could be difficult this year.’ Orlen recently raised its stake in Polkomtel to nearly 25% from 19.6%, but reiterated that it was determined to ultimately exit the investment. Other shareholders of Polkomtel include copper miner KGHM, energy producer PGE and Vodafone.

Poland, Plus (Polkomtel)