TPSA seeks remaining minority shareholders 44% stake in Wirtualna Polska

Telekomunikacja Polska (TPSA) will not be able to easily decrease the price of its remaining 44% stake in Wirtualna Polska, which is being held by minority shareholders. According to Puls Biznesu, their interests are represented by bank CAIB and Andrzej Mikosz from law firm Lovells. Minority stakeholders have the option of disposing their shares for almost zł. 500 million in 2005. The telecom company wants to buy them now, but for a substantially smaller amount. "TP Internet promised to buy the shares for this price and if it does not, then it will violate the law. However, if they want to buy the shares earlier then we might negotiate," said Mikosz. One of the minority shareholders said that parties should reach a satisfying compromise. According to sources shareholders demand $60 a share, which totals zł. 490 million for the whole stake. However, the portal is an important asset for TPSA, which will be its core in internet activities. (Puls Biznesu, pp. 1, 3) M.M.