Seven firms shortlisted for Polkomtel

7 Mar 2011

Seven companies have been shortlisted to buy Polish cellco Polkomtel, writes local daily newspaper Rzeczpospolita. According to the daily, the list includes TeliaSonera, Telenor, four private equity fund consortia led by Blackstone Group, KKR, Prudential and Bain Capital, as well as Polish media mogul Zygmunt Solorz-Zak.

On Friday the same newspaper reported that Solorz-Zak had placed the highest bid -worth more than PLN18 billion (USD6.32 billion). The amount is above the highest valuation of Polkomtel, prepared by BZ WBK brokerage for one of the cellco’s shareholders, the daily said. The report went on to say that a shortlist of bidders will be selected to conduct due diligence within the next few days.

Polkomtel’s current shareholders are Vodafone Group, Polish oil refiner PKN Orlen and copper mining group KGHM Polska Miedz, each with 24.39% stakes. Polish power utility PGE Polska Grupa Energetyczna owns a 21.85% stake while coal miner Weglokoks holds 4.98%.

Poland, Plus (Polkomtel)