Orlen to sell Polkomtel shares

22 Jun 2009

Polish newspaper Parkiet reports that Polish oil conglomerate PKN Orlen will seek to sell its 24.4% stake in wireless network operator Polkomtel next month. On 1 July 2009 an agreement between the Polish shareholders of Polkomtel – KGHM, PGE, Weglokoks and Orlen – concerning cooperation on the sale of Polkomtel shares, which was inked on December 2008, will expire. This will allow Orlen to put its shares on the open market. The company has said it would like to complete the whole process by the end of the year, with financial vice-chairman Slawomir Jedrzejczyk revealing that he expects the stake to raise a minimum of PLN3.8 billion (USD1.18 billion).

Poland, Plus (Polkomtel)