Shareholders agree zl.500 million loan to support Polkomtel's 3G launch

The country's second-largest mobile phone operator, Polkomtel, has secured a zl.500 million loan from its shareholders. According to a statement issued b y fuel giant PKN Orlen, one of Polkomtel's owners, the shareholders will gra nt the loan in proportion to their stake in the company. PKN Orlen, which ow ns 19.61% of Polkomtel, said the loan was due on December 31, 2006, and carr ied WIBOR (Warsaw Interbank Offered Rate) interest for six-month deposits, p lus a 5% margin. Polkomtel, whose other shareholders include Britain's Vodaf one, Denmark's TDC, and Polish copper firm KGHM, faces massive expenditure o ver the next few years on launching its third generation (3G) mobile phone s ervices. (Reuters)