Telbank to become part of alternative telecom group

Telbank, a provider of telecom services for banks, is likely to become the next member of National Telecommunication Group (KGT), a new entity designed as a competitor to TPSA. Tel-Energo, the chief player in the process of group consolidation, is going to sign an agreement with Telbank. "Tel-Energo will become a shareholder of Telbank, but under the terms of the transaction no instant financial investment should be expected," said an anonymous insider. The sell-off may be conducted in one of two ways. The Central Bank, which now controls a 74% stake in Telbank, may either sell it directly to Tel-Energo or to BRE Bank, which would in turn make use of the shares as an in-lieu contribution to the group. The value of Telbank, during a recent minor share transaction, was placed at around zl. 500 million. Telbank also holds a 10% share in the data transmission market, which makes it attractive to sector investors. (Puls Biznesu, pp. 1, 4) M.K.