PSE rejects Netia's offer to buy Tel-Energo

The improved offer of telecoms company Netia to purchase the shares of the second largest fiber optic network operator, Tel-Energo, was rejected by its owner, the National Grid (PSE). "The price proposed by Netia was unsatisfactory and so were the conditions they offered," said PSE deputy president Piotr Rutkowski. He announced that Tel-Energo would now focus on integrating with recently taken over Telbank, a provider of IT services for the banking sector. "We want to conclude this process by the beginning of the second quarter of 2004," added Rutkowski. He declared that in January the company would make a final decision about transferring the shares in telecom company NOM to Tel-Energo. "We would examine the potential economic and business synergies. If we do not decide on this move, then we would have to consider other options, such as closing NOM," claims Rutkowski. (Puls Biznesu, pp. 1, 8) M.M.