Exatel plans IPO to become a challenger to TP SA

The plans encompass an IPO and heavy investment. "We want to create a company that will be an alternative to TP SA by providing convergent services: regular fixed line, wireless internet access and mobile phone services all available from one phone number," said Jarosław Starczewski, Exatel's deputy president. The company plans to spend zł.80 million on operational investments this year and in order to do that it is working on its IPO. "We are considering debuting on the bourse with a block of shares that would still allow the owner, Polish National Grid, to remain in control of the company," explained Krzysztof Witoń, Exatel's president. Exatel would probably float about 40% of its shares. "We would like to raise zł.150-300 million from the floatation. We could use the money to invest in the development of this country's telecoms market as well as its state-owned sector," added Witoń. If Exatel's offer wins the tender to build a telecoms network for the country's administration, it plans to cooperate with Polkomtel and Dialog, other state-owned telecom companies. (Puls Biznesu, p. 4) D.W.