What role will EBRD play in new telecoms group?

The European Bank of Reconstruction and Development might participate in co-financing the creation of the National Telecommunication Group (KGT), which is to be an alternative to TPSA. The Bank will offer finance to help acquire Telbank, which will soon be sold by the National Bank of Poland. Next week a government working committee will meet to push the sector strategy forward. The first phase of creating KGT has already been com pleted, as Tel-Energo and NOM have decided to merge. The next phase will be to incorporate IT networks belonging to PSE and various power plants. Then, the new venture will offer a 20% stake to financial investors, the income from which would be used to develop the new operator. "Tel-Energo is already cooperating with the EBRD in the Telbank tender. The next logical move would be for the Bank to invest in the telecommunication holding," said a person close to the tender. EBRD has even offered to help finance the participation of Enterprise Investors in the tender. (Puls Biznesu, pp. 1, 9) M.M.