MARKET TALK: Polkomtel Dividend Cut Negative For Shareholders

17th Jun 2010 09:10

0810 GMT [Dow Jones] Polkomtel's '09 dividend cut, coupled with a lower audited net result than previously thought, will mean PLN125 million less cash than expected for 24.39% shareholders KGHM (KGH.WA) and PKN Orlen, and PLN112 million less for 21.85% shareholder PGE (PGE.WA), says DI BRE analyst Michal Marczak. Vodafone Group (VOD.LN) also has a 24.39% stake in Polkomtel. Rates KGHM at hold, PLN96.1 target, shares -0.6% at PLN92.85. Rates PKN Orlen at hold, PLN40.20 target, shares -0.1% at PLN38.40. Rates PGE at buy, PLN27.9 target, shares flat at PLN21.28. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 04:10 ET (08:10 GMT)