Tel-Energo use EBRD loan to buy Telbank

After purchasing from the National Bank of Poland (NBP) a 75% stake in Telbank, Tel-Energo will seek to take over minority stakes mainly controlled by BRE Bank and BGZ. Tel-Energo's exclusivity rights with the NBP for the purchase of Telbank expire at the end of the week. The firm's president, Andrzej Arendarski, has confirmed earlier unofficial information that the transaction will be financed by a loan from the European Bank for Reco nstruction and Development (EBRD). "It is possible that the loan will be turned into a capital investment in the new telecoms group Krajowa Grupa Telekomunikacyjna which will be set up with NOM and Tel-Energo. (Parkiet, p. 3) A.Z.