Still no deal ahead of decisive Netia shareholders meeting

Shareholders of Netia meet tomorrow to decide its future, with sources close to the ailing telecoms company saying the owners have yet to reach a rescue deal with debtholders. A proposed debt-for-equity swap would leave creditors with more than 90% of the company. However, this would radically reduce the stake held by Swedish investor Telia, from the current 48% to just 2.3%. Sou rces say Telia and second-biggest shareholder Warburg Pincus are unwilling t o relinquish all power, having pumped millions into the company. "There are ongoing discussions and it's not clear at all what will be the outcome of Tu esday's meeting," a source told Reuters. (Puls Biznesu, p. 9; Reuters) T.J.