In the nearest future PGE will announce a tender for appointment of an advisor in this process.
„We have analysed different options and have come to conclusion that sale of the shares is the most beneficial solution. Current market situation seems to favour such transactions. We are preparing competitive proceedings for selection of the transaction advisor for sale of Polkomtel shares” – says Mr Tomasz Zadroga, Chief Executive Officer of PGE. He added that this decision is in line with the strategy of PGE Capital Group that assumes focusing on energy business and sale of non-core assets.
PGE holds a 21,85% stake in Polkomtel. The other shareholders are PKN Orlen, KGHM, Weglokoks and Vodafone.
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Additional information about Companies:
Polkomtel S.A. is an operator of Plus mobile phone network, which was launched in 1996 and available to 99% of Poland’s citizens inhabiting 98% of country’s territory. Currently Plus network is the biggest mobile phone network in Poland. According to Polkomtel, after Q2 2009 it was a market leader in terms of number of customers – both in segment of contracted customers and customers using prepaid services. The sales revenues of Polkomtel in 2008 accounted for app. PLN 8.5 billion, EBITDA (operating profit plus amortisation) was app.
PLN 3.1 billion and net profit amounted to almost PLN 1.4 billion.
The shareholders of Polkomtel S.A. are: PGE Polska Grupa Energetyczna S.A. (21,85%), Polski Koncern Naftowy ORLEN S.A. (24,39%), KGHM Polska Miedź S.A. (24,39%), Vodafone Americas Inc. (19,61%), Vodafone International Holdings B.V. (4,78%), Węglokoks S.A. (4,98%).
PGE Polska Grupa Energetyczna S.A. is the largest energy group in Poland and one of the largest in Central and Eastern Europe. Thanks to combination of its own fuel resources (lignite), power generation capacity and distribution networks, PGE guarantees secure and stable supplies of electric power to ca. 5m households, companies and institutions.
Annual production of electric power totals over 56 TWh net, which represents 36% of Poland's production capacity. The installed capacity is 12.4 GW.
PGE Group has been operating in its present form since 2007. Its core areas of operations include lignite mining and generation of electric power and heat from conventional sources, wholesale of electric power and related products, retail sale of electric and heat power, and generation of electric power from renewable energy sources.
Contact for press:
Jacek Strzałkowski
PGE Polska Grupa Energetyczna S.A.
Spokesperson
e-mail: jacek.strzalkowski@pgesa.pl
tel.: +48 (22) 340 19 32