Vodafone May Want To Sell Stake In Poland's Polkomtel -Report

23rd Jun 2010 08:20

WARSAW (Dow Jones)--Vodafone Group PLC (VOD.LN) may want to sell its minority stake in Polish mobile phone operator Polkomtel, 100% of which could be worth 16 billion zloty ($4.84 billion), the chief executive of one of Polkomtel's Polish shareholders said in an interview with Polish daily Rzeczpospolita. "Polish shareholders have reached agreement on the joint divestment, 75.5% is on the table," Jacek Krawiec, CEO of oil refiner PKN Orlen (PKN.WA), said. "I'm not ruling out that Vodafone could join us, so 100% of shares could be on offer." Poland's largest power group PGE (PGE.WA) holds a 21.85% stake in Polkomtel. Refiner PKN Orlen and copper miner KGHM Polska Miedz (KGH.WA) each hold 24.39%. Coal miner Weglokoks holds a 5% stake in Polkomtel. The four companies are state-controlled. Vodafone holds 24.39% of the firm. Krawiec said the sale of Polkomtel should begin in the autumn and be completed in the first half of 2011. Newspaper Web site: www.rp.pl -Warsaw Bureau, Dow Jones Newswires; +48 22 447 2432 (END) Dow Jones Newswires June 23, 2010 03:20 ET (07:20 GMT)