Deutche Telekom still aims to take over Telefonia Dialog despite heavy debts

Deutsche Telekom (DT) is to take over Telefonia Dialog (TD) from copper concern KGHM. Negotiations have, however, ground to a halt as the German phone operator faces financial problems. DT, whose debt has reached nearly euro 70 billion (zl. 260 million) and which has a minority stake in Polska Telefonia Cyfrowa, is still intetrested in entering the Polish telecom market. "The negotiations were suspended a few weeks ago due to lack of agreement over the sum of money DT would be ready to pay for the Polish company," investment advisor Rafal Gebicki said. Analysts estimate the value of TD, which has a zl. 1.23 billion debt, at $200 million (zl. 810 million). "I do not think the company will find an investor soon. It seems more likely that it will join the telecommunication group currently being designed on the State Treasury's drawing board as an alternative to TPSA," said a source close to KGHM. (Puls Biznesu, p. 3) K.S.