Telia weighs options for future financing of troubled telecom operator Netia

Telia, the major shareholder in telecoms operator Netia, is weighing several options for continuing to finance the company, and still considers its investment to be a strategic one, a senior executive insisted yesterday. Tobias Lenner, Telia's investor relations director, said, "We own a 48% stake in Netia and it is a strategic asset for us, and we have not yet made any decision on how we shall proceed with future financing." Netia on Tuesday denied rumors that it was going to declare bankruptcy after its stock plunged by as much as 23%. Netia said in May that it would need a further $300 million in funding to keep it afloat until 2003. It said on Tuesday it had guaranteed funding to last until the end of the first quarter of 2002. (Prawo i Gospodarka, p. 13; Reuters) P.W.