Vodafone confirms readiness to sell Polkomtel stake

18 Oct 2010

Dow Jones Newswires reports that Vodafone Group has assured its fellow shareholders in Polkomtel that it is ready to begin the sale of its 24.39% stake in the Polish mobile operator. Polish firms KGHM Polska Miedz and PKN Orlen both hold shares of equal size to the UK-based group, whilst domestic power company Polska Grupa Energetyczna has a 21.85% stake and Weglokoks, a Polish coal exporter, 4.98%. The consent of all shareholders is needed to proceed with the sale. According to local reports, part of Polkomtel’s equity could be listed on the Warsaw Stock Exchange. Last month it was revealed that some of the world’s biggest private equity groups are lining up leveraged buy-out bids worth approximately EUR4 billion (USD5.2 billion) for Polkomtel, including Apax Partners, Blackstone, TPG and CVC Capital Partners.

Poland, Plus (Polkomtel), Vodafone Group