Energis Polska to receive capital injection from main investor - National Grid

British-based National Grid, the main shareholder in domestic telecom company Energis Polska, has decided to increase the capital in the latter from zl. 326 million to zl. 855 million. The capital increase will enable Energis to repay the euro 125 million it owes to the European Investment Bank (EIB). "The decision to raise the capital will allow the company to pay its debts and at the end of the year achieve a positive EBITDA; we will be able to operate independently, taking only short-term loans for our current needs," said Energis Polska chairman Jaroslaw Mikos. National Grid is considering selling its shares in Energis, but not until 2004. Energis provides data transmission and long-distance connection services to the corporate sector and currently has 800 customers on its books, who collectively use around 4 million long-distance minutes of call time a month, compared with the respective monthly figure of Telekomunikacja Polska SA of 267 million minutes. (Rzeczpospolita, p. B2) M.T.