KGHM vows to continue the search for an investor in Telefonia Lokalna

Mining group KGHM is reported to be having problems with finding an investor in Telefonia Lokalna (TL), Poland's second biggest independent fixed-line ph one operator. According to a report in Puls Biznesu, an information memorand um sent by KGHM to potential investors elicited virtually no response. Howev er, KGHM has not given up hope of finding an investor interested in buying t he phone operator. "We have not stopped the search for an investor in TL," s aid Jerzy Pietraszek, KGHM spokesman. He explained that in the near future K GHM would undoubtedly be a dominant entity in TL, which was why they were se eking an additional source of financing for the company. Meanwhile, KGHM sha res surged 4.6% on the Warsaw Stock Exchange (WSE) yesterday, to close at zl .11.45, after the company reported a much smaller than expected third quarte r loss. (Puls Biznesu, p. 4; Reuters) P.J.