Copper giant KGHM seeks investor for Telefonia Dialog

Polish copper concern KGHM Polska Miedz - owner of local fixed-line telecom operator Telefonia Dialog - is soon to choose an investor for this 100% owned company. Of the nine offers submitted, only one is not subject to the consolidation of independent telecom operators, and this seems to be the most promising. Among the interested companies are a group of British investment funds and TeleDanmark - already a shareholder in the country's second largest mobile telecom operator, Plus GSM. "We have nine interested investors. One of the most serious is a passive partner with cash on hand. We are discussing sums, which will mean a two-year investment plan equalling the total investment outlay for the last year. Other offers mean engagement when consolidation of the fixed line operators begins," explained president of KGHM Stanislaw Speczik. In his view, a decision to choose an investor for Dialog would be made sooner than expected by the market. Dialog's services were used by 350 thousand customers in the first half of 2002 and the firm recorded revenues of zl. 175 million for the period. (Puls Biznesu, pp.1, 5) M.M.