TPSA to raise local telephone prices

"The price increase, which was planned in February, is a result of inflation. It's the first [increase] and the last one this year," said Piotr Gawron, head of the TPSA press office. According to Gawron, the raise was necessary to adjust the TPSA tariff to European Union regulation, so that local calls would be cheaper than long distance calls. "That's why we are lowering prices of long distance calls this year," said Gawron. In related news, the Treasury Ministry has submitted to the Securities and Stock Exchange Commission (KPWiG) the TPSA issue prospectus. The firm's market value is estimated at $10 billion. Most likely in late fall the first public offering will take place, where 20-25% of TPSA shares will be sold. (Gazeta Wyborcza, page 20)