Will Vodafone buy Polkomtel stakes from Polish shareholders?

The British operator has been trying to increase its stake in Plus GSM since it entered the market four years ago. However, shareholders blocked their attempts and Vodafone still owns a 19.61% stake in the Polish mobile operator. Now it has a new opportunity to buy more shares, as National Grid (PSE), copper conglomerate KGHM and oil concern PKN Orlen declared their will to sell their joint 56.78% stake. "In accordance with the presented schedule, we plan to sell the shares between 2003 and 2004," informed the investors' relations office of PKN Orlen. However, a few days ago, the president of KGHM Stanisław Speczik said the shares might be sold no sooner than next year, which in fact might be better for Polkomtel due to changes in CIT regulations. (Parkiet, p. 3) M.M