PKN Orlen, KGHM ready to sell Polkomtel

According to unofficial information the directors of oil giant PKN Orlen are seriously considering selling its stake in Plus GSM operator, Polkomtel. "We might choose the company to execute this transaction by the end of this year," said an anonymous PKN Orlen management representative, "Our investor often mentions that we should concentrate on our core-business. After six months of engagement we can now withdraw." According to analysts, the 19.61% stake owned by PKN Orlen is worth between $340 million and $650 million. A similar size stake is controlled by copper miner KGHM, whose president Stanisław Speczik announced that if other Polish partners decide to sell their stakes, his company will follow suit, keeping to a previous agreement among the Polish shareholders. (Rzeczpospolita, p. B2) A.K.