Orascom Telecom eyes Polkomtel – report

16 Oct 2009

Egyptian wireless holding company Orascom Telecom may be interested in buying a stake in Poland’s largest mobile network operator by subscribers, Polkomtel, according to Puls Biznesu citing deputy treasury minister Mikolaj Budzanowski. According to the newspaper the minister said he thought Orascom Telecom could be interested in the transaction. The Polish treasury, which is meeting investors in Egypt, is not a direct shareholder of Polkomtel, but controls Polkomtel’s majority shareholders. Electricity utility PGE, which holds 21.85%, and oil refiner PKN Orlen with 24.39% are both believed to be preparing to offload their shares in the cellco. Copper miner KGHM holds an additional 24.39% stake while the UK’s Vodafone Group owns 24.39%.