Speculation about TDC interest fuels continuing rise in Szeptel shares

Shares in telecoms group Szeptel surged for the second consecutive session yesterday, with analysts speculating that the rise is due to rekindled hopes that Denmark's TDC is planning to acquire a strategic stake in the group. Szeptel shares were up 14% in trading on the Warsaw Stock Exchange (WSE), to close at zl.26.1. The stock has gained some 28% in the last two sessions. TDC, which has expressed an interest in buying a stake in Szeptel, has until October 2 to finalize any deal. "Speculators are hoping the Danish firm will buy shares by the October deadline," said Piotr Kajczuk, telecoms analyst at Bank Zachodni WBK brokerage. Szeptel's chief executive has said TDC may buy at least 25% of the Polish operator. (Reuters)