Poland's portal No. 2 poised to sell 25% stake to TPSA

Wirtualna Polska, Poland's second most popular Internet portal, is seeking to raise its capital by 25% through a share issue earmarked for the country's largest fixed-line operator Telekomunikacja Polska, S.A., according to unofficial sources. WP and TPSA have allegedly been negotiating the deal, whose value is estimated at some $50 million, for several months, and industry insiders believe that due to TPSA's close ties with software company Prokom, which holds 40% in WP, it is only a matter of time before the telecom giant buys into the portal. (Puls Biznesu, p. 5) M.S.-C.