Polkomtel deal

This acquisition means that the Polish companies will now own more than 75 percent of Polkomtel's shares. TDC announced that it offered its remaining 4.8-percent stake in Polkomtel to British telecom operator Vodafone, which already owns 19.6 percent of the Polish telecom.

Vodafone has contested TDC's decision to sell its stake in court, and obtained an injunction against the transfer of the shares. As KGHM's spokesperson Dariusz Wyborski informed WBJ, agreement was signed on the condition that the court's decision forbidding the transfer will be overruled or the injunction expires. If by March 10, 2009 there are any legal obstacles relating to the argument between TDC and Vodafone the buyers can withdraw from the agreement. "We hope that the disagreement will be resolved by 2009," Wyborski said.

"But we expect a long trial, the issue is important and all the sides seem determined," he concluded.