KGHM calls for summit meeting over Polkomtel sale

Copper conglomerate KGHM invited representatives of PKN Orlen, the National Grid (PSE) and Węglokoks for a "strategic meeting" concerning the future of Polkomtel, the owner of Plus GSM mobile phone network, announced KGHM deputy president Andrzej Szczepek. The meeting is being called largely in reaction to recent reports that Orlen has withdrawn from the agreement to coordinate its sale of its stake in Plus with the other major Polish shareholders. "Our goal is to sell the shares in the operator, but bearing in mind that 40% of KGHM's value is constituted by its Polkmotel's shares, we need to be careful," said Szczepek. At the same time he sustained his will to further cooperate with other Polish shareholders concerning the sale of the stock. Analysts had been warning that there were signs of friction between PKN-PSE-KGHM over how best to sell their stakes in Polkomtel. (Parkiet, p. 5) M.M.