Deutsche Bank organizing euro 650 mn loan for GSM Era operator

Polska Telefonia Cyfrowa (PTC), the telecoms firm operating GSM Era, will sign a contract at the end of this week with German banking giant Deutsche Bank (DB) for a loan totalling euro 650 million. Though PTC spokesman Robert Niczewski would not confirm the amount of the loan or the bank securing it, he did say part of the money would be used to cover costs associated with expanding PTC's UMTS network. (Prawo i Gospodarka, pp.1,12) P.J.