PSE to sell non-core assets

Stanisław Dobrzański, the director of the Polish Power Grid (PSE) declared that the company will sell all its assets not related to its core business by May 2004. This includes its 16% stake in mobile operator Polkomtel. Also the previously announced sale of up to two thirds of its 90% stake in Tel-E nergo, a company estimated to be worth zł. 1.5 billion, will soon be comple ted. "We have to keep the remaining shares to ensure the security of PSE. T he investor which will acquire the company, will also receive us as a clien t, as we do not plan to abandon the services which were provided for us by Tel-Energo," said Dobrzański. He does not exclude that during June's General Shareholders Meeting, a decision will be made not only to increase the capi tal of Tel-Energo, but also to possibly merge it with NOM, and the recently acquired Telbank. (Puls Biznesu, p. 6) A.K.