TDC to invest proceeds from Pannon sale in additional 2% of Polkomtel

Dutch telecom group TDC is to increase its stake in Polish mobile network operator Polkomtel, after selling its 6.6% interest in Hungarian mobile phone operator Pannon GSM. The euro 89 million TDC raised from the sale would be sufficient to purchase an additional 2% of Polkomtel shares. According to Hening Vest, director of TDC's mobile unit, "Polkomtel is a well-managed company, and TDC is keen to increase its stake, and even take control of it." TDC currently owns 19.6 % of Polkomtel, as does the world's biggest mobile phone operator, Britain's Vodafone, which has also declared an interest in the Polish market. In recent weeks two other major shareholders in Polkomtel, PKN Orlen and Polskie Sieci Elektroenergetyczne (PSE) power networks, have stated that they do not rule out selling their shares in Polkomtel. By contrast, copper concern KGHM has announced that it plans to increase its stake in the money-making operator. (Rzeczpospolita, p. B3) P.W.