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Vodafone and TDC put call in for Polkomtel shares

British Vodafone and Danish TDC have reportedly submitted a preliminary offer to purchase a 46% stake in mobile phone operator Polkomtel.

They are offering almost zł.7 billion plus a 25% premium to take control of the firm. According to Puls Biznesu, the non-binding offer for the shares, which would give the companies an 85% stake in the operator, amounts to almost zł.8.7 billion. According to a source, the international operators could also consider acquiring a smaller amount of shares instead - two lots of 20.39% share volumes, which would enable them to increase the stake to be sold publicly from 15% to 20%.

According to the stipulations of the offer, foreign investors can demand that the period between the internal exchange of shares and the IPO is no longer than three months. Under this scheme, a Memorandum of Understanding would be signed by the end of July and a binding offer would be submitted jointly to change the shareholders contract so that the company could be floated by mid-August.

(WBJ 25.vii.05)

 
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