Polkomtel sale set for next month?

20 Oct 2010

Dow Jones is reporting that the sale of Polish cellco Polkomtel is likely to get underway next month, citing people familiar with the situation. Several private equity firms are expected to bid, with US-based TPG and Blackstone Group rumoured to be working on a joint bid, while London-based CVC Capital Partners and Apax Partners are planning stand-alone offers. Other possible interested parties include Turkcell, Orascom Telecom and KPN. As it stands, Polkomtel is owned by five companies: Poland’s largest power group, PGE Polska Grupa Energetyczna SA (PPOLF), with a 21.85% stake; oil refiner PKN Orlen with 24.39%; copper mining group KGHM Polska Miedz with 24.39%; Vodafone Group with a 24.39% stake; and coal miner Weglokoks, with a 5% stake.

Poland, Plus (Polkomtel)