Tel-Energo stake Netia and Energis shortlisted

Netia and Energis Polska have been short listed as potential buyers of a stake in Tel-Energo, a telecoms group, controlling the assets of NOM, a long-distance operator and Telbank. According to unofficial information both consortia have estimated the value of Tel-Energo at zł. 1.3 billion. This sum however has to be reduced by zł. 500 million, which are the company's debts, and therefore the value of the company stands at zł. 800 million. Polish Grid (PSE), the owner of Tel-Energo hopes to sell a stake of between 50% and 67% of the telecom. The potential investors have now been given two weeks to verify Tel-Energo's financial standing. "If there are no unexpected problems, binding offers are to be submitted in October at the earliest, and in such a case there is a chance of signing the contract before the end of 2003," said an anonymous informer. The short list can still be enlarged by one consortium if it decides to correct its offer. (Puls Biznesu, p. 8) A.K.