PKN Orlen telecom investments begin with a capital boost for NOM

Polish fuel sector mogul PKN Orlen will spend zl.35 million to increase the capital of Niezalezny Operator Miedzystrefowy (NOM) telecom operator, in which it holds a 35% stake. NOM's other investors, energy sector companies Polskie Sieci Energetyczne and Telekomunikacja Energetyczna Tel-Energo, will also invest more in their stakes in the firm. Specialists say the money injection into NOM is connected with the planned launching of long distance telecom services for which the company has a license. Under the amended telecom regulations to take effect in 2002, a license will not be required, so NOM will be in a favorable position for only 9 months. NOM's plans to start providing long distance call servicing have been confirmed by PKN Orlen's authorities. "NOM will use the money gathered to launch the new services, as well as an investment into the NOM-TP SA telecom network connection points and promotion of its services," said PKN Orlen's Dariusz Grebosz. (Parkiet, p.3) J.K.