France Telecom increases stake with more TP SA shares

France Telecom (FT) will purchase 6% of Telekomunikacja Polska S.A.(TP SA) shares in the public offering scheduled for May or June, with a further 10% to be obtained by July 31, announced deputy treasury minister Aldona Kamela-Sowinska. She confirmed that the 6% TP SA stake would be set aside for the French operator in the secondary issue. Last year FT-Kulczyk Holding consortium bought a 35% stake of TP SA for zl.18.6 billion, or zl.38 per share; Kamela-Sowinska said the Ministry wants to sell a 10% stake by the end of July at the same per-share price, adjusted for inflation. FT will then have the option to take control of the former Polish telecoms monopoly, having acquired 51% of the company. FT and Kulczyk Holding refused to comment on the announcement. (Prawo i Gospodarka, pp.1,11; Reuters) P.J.