Treasury Minister expects France Telecom to increase stake in TPSA

Treasury Minister Aldona Kamela-Sowinska said yesterday.she is confident that France Telecom (FT) will exercise its option to acquire an additional 10% stake in Telekomunikacja Polska SA (TPSA), Poland's leading telecom operator. Her statement had been widely expected by the market and analysts, who anticipated that the French company would be keen to purchase the additional shares, since it needs a further 6% stake to become a majority shareholder in TPSA. The FT-Kulczyk Holding consortium currently holds 35% of shares in the Polish telecom giant. FT is holding negotiations with the Treasury Ministry to decide the share price the French should pay. In September, the ministry will announce a public tender for 14% to 30% of TPSA shares. (Prawo i Gospodarka, p. 15) M. S.-C.