PSE plans consolidation of telecom companies in Tele-Energo Holdings

The Polish Power Grid (PSE) has announced plans to offer financial investors a 20% stake in Tel-Energo Holdings, a company which will be formed by the end of September and will be completely owned by Tel-Energo. Tel-Energo Holdings is to hold the assets of Tel-Energo, Niezalezny Operator Miedzystrefowy (NOM) and PSE Info. The money raised from the sale will be plowed into new investments in the Polish Power Grid, reaching up to $300 million. PSE is planning for Tel-Energo Holdings to take over other telecom companies, and hopefully form a part of Krajowa Grupa Telekomunikacyjna, a possible competitor to TPSA. Negotiations are currently being held with three potential investors. Formal offers will be made in September. (Rzeczpospolita, p. B5; Puls Biznesu, p. 6) A.K.