TPSA set to acquire minority stake in top Internet portal

Telekomunikacja Polska S.A. (TP SA) has reportedly reached an agreement with shareholders of leading Internet portal Wirtualna Polska (WP) on acquiring a minority stake in the portal. The deal is to be signed within a few days, with TP SA expected to acquire shares from a new stock issue. According to an initial agreement from May, TP SA was to take 50% plus one share of WP, by both acquiring newly issued shares and buying some from current shareholders. It now appears that initially only the first stage of this deal will take place, with TP SA obtaining an option to later conclude a transaction which would give it a majority stake. WP's largest shareholders are CNT sp z o.o. with 49% and Prokom Internet with 40%. (Parkiet, p.1) T.J.