Orange/France Telecom eyeing PTK Centertel for takeover
Although Telekomunikacja Polska S.A.(TP SA) management is denying the fact,
according to Computerworld, Orange, a subsidiary of France Telecom, intends
to take over telecom company PTK Centertel as soon as possible. As far as
Polish market regulations are concerned, there is no obstacle to such a plan
of action. Presumably Orange would issue its own stock to the shareholders
of companies taken over, in which case Centertel TP SA would hold only a
very small portion of Orange (it currently owns 66% of Idea's network
operator). TP SA representatives made no comments about these issues, but
the company's budget reportedly provides for further investment in Centertel
both through a capital boost and subsequent loans. Moreover, TP SA is
planning to issue eurobonds in the amount of euro 500 million in February,
and with another issue of the same amount most likely before the end of
2001. (Parkiet, p.1; Rzeczpospolita, p. B4) M.S.-C.
