TeliaSonera bids for Polish mobile network
WARSAW (AFP) - Several global players are among the bidders for Polkomtel, a leading Polish mobile telecommunications firm, media reported Tuesday, with Nordic telecoms giant TeliaSonera announcing an "indicative bid".
"Offers have been made by all the large players. Over ten bids have arrived," Poland's broadsheet Rzeczpospolita daily reported, quoting an unnamed source close to the deal worth an estimated 18 billion zloty (4.55 billion euros, 6.2 billion dollars).
Sweden's Telia-Sonera admitted it was eyeing the Polish operator.
"We have hinted earlier that we were interested in the investment and now we have handed in an indicative bid," TeliaSonera communications chief Cecilia Edstroem told AFP, refusing to comment on what amount had been suggested.
The bid had been handed over Monday, she said.
"Now the sellers' advisors will look at it ... before we go into phase two, due diligence, before going on to possible negotiations," she said, adding "we expect to hear back from them sometime in March.
"What is important for us, the condition for us to be interested, is that the price is right, so we can create value for our shareholders," Edstroem said.
According to Rzeczpospolita, a consortium of investment funds and Polish business mogul Zygmunt Solorz-Zak were also among the bidders, although they declined comment.
"The company management will be officially informed about how many offers were received and who made them on February 25," Polkomtel vice president Krzysztof Kilian was quoted as saying.
Norway's Telenor, Spain's Telefonica, global private equity firms Blackstone, TPG, Apax, KKR, CVC and BC Partners were also said to have submitted bids, according to the Dziennik-Gazeta Prawna daily.
Polkomtel is controlled by six investors, including Vodafone Americas which has a 19.61 percent of shares, Poland's fuels giant Orlen S.A. with 24.39 percent of the shares, Polish-based copper giant KGHM with a 24.39 percent share and Polish energy firm PGE with a 21.85 percent holding.
Polkomtel operates Plus, a leading Polish mobile telephone network. According to industry analysts it ranks second behind France Telecom's Orange network but ahead of Deutsche Telecom's third place Era network.
Last Updated (Tuesday, 22 February 2011 14:54)





