Private telecom operators seek to reduce debts

Telecom operators Netia, Dialog and El-Net are seeking to reduce around zl. 1 billion of their zl. 1.6 billion debt (from outstanding license fee payments) and are gearing for the conversion of their liabilities to investments and bonds. The Finance Ministry's talks with the operators, and the first decision, are expected before the end of January. "Netia has filed all documents required with the Ministry to convert its euro 95 million debt. The procedure of the conversion is subject to further negotiations," said Jolanta Ciesielska, Netia' spokesperson. KGHM-controlled Dialog is hoping to dispose of its approximately zl. 500 million debt and Elektrim-owned El-Net would also like to see its euro 40 million arrears converted. In addition, El-Net says it will seek further debt conversions. Operators do not want to pay license fees as, since January 2001, licenses have been replaced with cheaper permits. (Puls Biznesu, p. 3) J.K.